Iconic W Fort Lauderdale Hotel and The Residences at W Fort Lauderdale Sold

​Fort Lauderdale, Florida – July 21, 2014 – CBRE Hotels and CBRE Multifamily Institutional Properties arranged the sale of the iconic 346-room W Fort Lauderdale Hotel, at 401 North Fort Lauderdale Beach Boulevard, and the remaining 147 out of 171 total residential units within The Residences at W Fort Lauderdale, at 3101 North Bayshore Drive, twin 23-story towers stretching along a full oceanfront block in Fort Lauderdale. An affiliate of Related Fund Management acquired the unique combination of hotel and residential property. CBRE and The Ackman-Ziff Real Estate Group represented the seller.

"This record transaction represents the city’s growing caché, as well as the scarcity of beachfront property in one of South Florida’s most desirable destinations,” said Robert Given, vice chairman with CBRE.  

“Related Fund Management is uniquely qualified to unlock this magnificent property's potential as not just Fort Lauderdale's leading hotel, but as a catalyst for Fort Lauderdale Beach becoming one of the world's preeminent hotel, restaurant and entertainment destinations,” said Robert Kaplan, Principal, Ackman-Ziff Real Estate.

W Fort Lauderdale and The Residences at W Fort Lauderdale is a landmark property on one of the most scenic stretches of white sand beach in South Florida, and has received a long list of awards, including being named a Top 100 US Hotel in Condé Nast Traveler’s Readers’ Choice Awards. Built in 2009, the property’s award-winning towers are home to 346 hotel units in the East Tower and 171 residences in the West Tower. Residential units feature magnificent nine-foot floor-to-ceiling windows, Atlantic Ocean and Intracoastal Waterway views and Bang & Olufsen entertainment systems. The towers sit on 4.54 acres of land and offer 20,000 square feet of meeting facilities, 5,500 square feet of outdoor event space and 15,000 square feet of commercial space.

The sales team representing the seller included Given, Zachary Sackley, and Neal Victor of CBRE’s Institutional Properties group, Robert Taylor of CBRE Hotels, and Robert Kaplan, Mark Rutherford and Chris Lentz of Ackman-Ziff.

CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.