Kolter Acquires Hyatt Place Ft. Lauderdale 17th Street Convention Center
New owner expands portfolio with acquisition in booming Ft. Lauderdale market
Ft. Lauderdale, FL - November 18, 2011 - Kolter Commercial has purchased the Hyatt Place Ft. Lauderdale Airport North located near Port Everglades Cruise Terminal, the Broward County Convention Center and Hollywood International Airport. The hotel has been renamed the Hyatt Place Ft. Lauderdale 17th Street Convention Center. The hotel will join Kolter's existing portfolio of Hyatt Places (West Palm Beach/Downtown and Delray Beach Pineapple Grove - currently under construction and slated to open Q3 2012) and the Hilton Garden Inn Palm Beach Gardens located in Palm Beach Gardens, FL. Kolter has committed to a $2 million Property Improvement Plan for the hotel over the next 12 months including renovations of hotel guestrooms, exterior and public space.
“We are excited about growing the Kolter family and transforming this Hyatt Place into one of the most desirable properties in Ft. Lauderdale” said Scott Webb, President of Kolter Commercial. “The hotel's strategic location directly across the street from the Convention Center and just blocks from the cruise port makes this property a most attractive option in the area for corporate, leisure and convention center travelers,” Webb added.
The six-story, 126-room hotel is located across the street from Convention Center. The hotel features complimentary wireless internet, a deluxe daily breakfast buffet, Starbucks coffee service, shuttle services, fitness center, business center and its own convenient parking lot. In addition, the hotel has over 1,100 square feet of meeting/function space with catering services available. All 126 guest rooms, meeting space and public facilities offer wireless Internet access. The guest rooms include 42” LCD HDTV's, desk/work area, king or double queen beds and refrigerators in room.
About Kolter Commercial LLC/Kolter Group LLC The Kolter Group's experience spans multiple geographies, real estate asset classes and stages of the development and investment cycle, from acquisition and entitlement of land to asset management of income-producing property. Headquartered in Palm Beach County, Florida, The Kolter Group is a private investment firm that is focused on real estate development, investment and construction. www.kolter.com
Contact:
Scott Webb, President
Kolter Commercial LLC
561-682-9500
[email protected]
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