CBRE Hotels Arranged Sale of Rare Oceanfront Development Site in Florida Keys

Luxury resort planned for 24-acre opportunity in Marathon

Florida Keys, Florida – December ​23, 2015 – CBRE Hotels arranged the sale of a rare 24-acre oceanfront development site in the Florida Keys. The property, currently occupied by Knights Key RV Resort & Marina at 1 Knights Key Blvd. in Marathon, Florida, was acquired by Singh Investments.

"This development opportunity is exceptional—an expansive oceanfront site with significant density for resort redevelopment,” said Lisa Zaranek, Vice President, CBRE Hotels. “The future resort will be among the largest in the Keys.”

“To maximize the potential of the property, the new owner has announced plans to build a 199-unit, five-star resort with 148 oceanfront units, 51 units with garden or pool views, a 24-slip marina, beachside restaurant, fitness center, and landscaped central plaza,” added Paul Weimer, Vice President, CBRE Hotels.

Located at the entrance to the Keys’ famed Seven Mile Bridge, the property occupies a peninsula with approximately 2,500 feet of shoreline, sweeping Atlantic Ocean views, and easy access to the Florida Bay for boating and fishing. Future resort guests will also enjoy proximity to a wide array of shopping, restaurants, water sports, and other amenities in and around Marathon.

Christian Charre and Natalie Castillo with CBRE Hotels, along with Calum Weaver, Gerard Yetming and Robert Given of CBRE's South Florida Multi-Housing Group, collaborated with Ms. Zaranek and Mr. Weimer in arranging the transaction.

CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation, consulting, research and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 375 dedicated hospitality professionals located in 60 offices across the globe.

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 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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

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