Among
the noteworthy deals of the past week was the Finvarb Group selling the
Courtyard by Marriott Palm Beach Jupiter to Umbrella Point Holdings for $20.9
million.
JUPITER, Florida — Miami-based Finvarb Group sold the
128-key Courtyard by Marriott Palm Beach Jupiter to Umbrella Point Holdings on
July 2 for $20.9 million.
According to The Real Deal, Umbrella Point Holdings is tied
to JW Marriott Family Enterprises. Hunter Hotel Advisors facilitated the
transaction.
Located off I-95, the hotel is across from Roger Dean
Chevrolet Stadium, a professional baseball complex with spring training and
minor-league facilities for both the Florida Marlins and St. Louis Cardinals.
Finvarb Group initially purchased the development site for $3.94
million in 2008.
The new buyer plans to renovate the property and retain
Marriott International as the management company.
To download our list of deals from the past week in Excel
format, click here.