Tampa, Fla. (March 3, 2022) – THE PLASENCIA GROUP, a leading lodging investment advisory and consulting firm, advised Key International and Wexford Real Estate Investors in the sale of the AC Hotel by Marriott Fort Lauderdale Beach to Dynamic City Capital. Situated in the heart of Fort Lauderdale Beach at 3029 Alhambra Street, the 10-story hotel features 171 rooms, the AC Kitchen restaurant, and the AC Lounge Lobby Bar. Many of the rooms offer spacious balconies and direct ocean views.
“The development of the AC Fort Lauderdale Beach has been a labor of love for the Key International team, and the result is nothing short of spectacular. Dynamic City Capital will enjoy an incomparable product occupying a very distinct, unmet demand niche within Fort Lauderdale Beach,” said Nick Plasencia, Managing Director of The Plasencia Group.
The Plasencia Group’s Tampa office facilitated the transaction, which is one of the latest in The Plasencia Group’s recent history of successful client engagements in the Sunshine State. During the period from January 2021 through February 2022, the company’s principals facilitated the sale and financing of a wide range of resort, full-service, and select-service lodging properties across Florida at an average per-key value of approximately $370,000.
“Investor interest in Florida’s coastal properties remains historically high as beachfront hotels continue to outperform across the state,” added Nick Plasencia. “We continue to field calls from private and institutional investors alike who are looking to place capital in blue-chip assets like the AC Fort Lauderdale Beach.”
The Plasencia Group has advised on the transaction, asset management, renovation, development and refinancing of numerous hotels and resorts in Florida and across the country over the last year. Over its three decades in business, the firm has facilitated and structured hundreds of significant capital events for institutional and independent owners of hospitality assets across North America.
