JLL closes sale of the 1,000-key beachfront Diplomat Beach Resort in Hollywood, FL at undisclosed price; esimated to be the third largest single-asset hotel transaction of its kind in U.S. annals

 

SOLD: the Diplomat Beach Resort,
 an award-winning beachfront resort 
 with 1,000 guest rooms
 in Hollywood, FL
The price was not disclosed.

 

 Jeffrey Davis

MIAMI, FL – JLL’s Hotels & Hospitality Group has closed the sale of the Diplomat Beach Resort, an award-winning beachfront resort with 1,000 guest rooms in Hollywood, Florida. The price was not disclosed.

JLL represented the seller in the transaction. A joint venture between Credit Suisse Asset Management and Trinity Fund Advisors LLC purchased the resort.

 

The new owners also announced the signing of a management agreement with Hilton Hotels and Resorts to oversee the resort’s operation under the Curio Collection by Hilton brand.

 

Gregory Rumpel

Extensively renovated and repositioned through a comprehensive $90 million dollar capital plan in 2018, the Diplomat Beach Resort is unrivaled as a world-class beachfront meeting and events-focused resort.

The resort features 1,000 traditional guest rooms and suites and 200,000 square feet of integrated meeting and events space.

 

The property consists of a twin-spired, 33-story tower housing the hotel rooms, a 14,000-square-foot spa, eight restaurants and bars plus multiple pools and cascading waterfalls.

 

 Kevin Davis

Additionally, the property is situated on 10 acres of Atlantic Ocean beachfront offering kayaking, paddleboarding and jet ski rentals. 

 

The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Directors Jeffrey Davis and Gregory Rumpel, Americas CEO Kevin Davis and Global CEO Gilda Perez-Alvarado.

“Over the last few months of 2022, U.S. group demand reached 93% of 2019 levels and we predict even further acceleration through 2023, driven predominantly by upscale and upper upscale hotels,” Jeffrey Davis said.

Gilda Perez-Alvarado.

 

He added, “The sale of the Diplomat was the third largest single-asset hotel sale ever in the U.S and it’s truly a win-win for both the seller and the buyers.”

 

The Diplomat Beach Resort is ideally located between the two most significant airports in South Florida, Fort Lauderdale/Hollywood International Airport (10 minutes) and Miami International Airport (30 minutes), affording the resort unparalleled access to guests from major markets throughout the U.S., Latin America and Europe.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

 

CONTACT:

Cierra Lacasse

JLL PR, Hotels & Hospitality,

 Capital Markets

JLL.com

 

Ware Malcomb Promotes Joshua Thompson to Director, Interior Architecture & Design in Downtown San Diego, CA Office

 

Joshua Thompson

SAN DIEGO, CA – Ware Malcomb, an award-winning international design firm, today announced Joshua Thompson has been promoted to Director, Interior Architecture & Design in the firm’s Downtown San Diego office.

 In this role, Thompson is responsible for the leadership of the office and continued growth of the Interior Architecture & Design Studio. 

Thompson brings more than 21 years of experience in the industry. He has been with Ware Malcomb for nine years, starting his career in the firms’ Phoenix office and transitioning to Downtown San Diego in 2019. 

“Joshua's leadership and contributions to the growth of the Downtown San Diego office have been remarkable,” said Brian Koshley, Regional Director, Ware Malcomb.

 “His commitment to his colleagues' professional growth and his entrepreneurial spirit are an inspiration to us all. We congratulate him on this well-deserved promotion.”

Brian Koshley

Thompson specializes in the design of corporate office, tech office, medical office and clinics, restaurant, retail, and industrial projects.

He graduated Summa Cum Laude with a Bachelor of Science Degree in Interior Design from Arizona State University.

 He has also earned the NCIDQ design certification from the National Council for Interior Design with the International WELL Building Institute’s WELL AP credential.

Recently, Ware Malcomb was named the #2 Architectural Firm in San Diego Business Journal’s Book of Lists. 

  

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director, PR & Communications,

949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

Principal, Marketing, 949.660.9128

 mbissonnette@waremalcomb.com

 

Northmarq hires Vikaas Patni to join commercial investment sales team in Cincinnati

Vikaas Patni

CINCINNATI, OH (Feb. 9, 2023) — Northmarq’s Cincinnati office has announced the addition of Vikaas Patni as senior associate – commercial investment sales.

 Patni specializes in the disposition and acquisition of both single-tenant net lease properties and multi-tenant shopping centers throughout the United States.

Daniel Herrold

 

Prior to Northmarq, Patni served as vice president of Brokerage Services at Lee & Associates and achieved top producer status in 2021. Before Lee & Associates, Patni held leadership positions at Phillips Edison & Co. and Meridian Realty Capital.

 

“I am very excited to be a part of Northmarq and Daniel Herrold’s team," said Patni.

 

 "With Northmarq and Stan Johnson Company combining forces, the new platform is now second to none, and I look forward to leveraging this and bringing value to my clients.”

 

Patni joins a team of investment sales professionals led by Daniel Herrold, senior vice president. With over 15 years of experience, Patni brings a client-focused approach, consulting and guiding his clients throughout the transaction’s entire lifecycle.

 

Contact

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

JLL adds two industrial experts, Pauline Hale and Katelyn Drosnock, to its Valuation Advisory group

Katelyn Drosnock

 

CHICAGO, IL, Feb. 9, 2023 – JLL’s Valuation Advisory group announced today that it has expanded its industrial property sector team with two key hires. Pauline Hale, MAI, CCIM, MRICS joins the group as an Executive Vice President based in Southern California and will be the industrial market lead for California. Katelyn Drosnock joins as an Executive Vice President in the Mid-Atlantic region.

Pauline Hale

The duo will report into Managing Director Katie Parsons, MAI, who leads the national industrial practice for JLL’s Valuation Advisory group.

 

“One of my goals when I joined JLL last year, was to build out a robust national industrial team with exceptional leaders like Pauline and Katelyn,” Parsons said.

 

“Industrial continues to enjoy its run as one of the most coveted asset classes for both occupiers and investors.

 

"Despite this, our clients continue to rely upon us to guide them through pricing uncertainty and market nuances through a combination of knowledgeable professionals such as Pauline and Katelyn, as well as market-leading proptech tools that can assess risk and provide real time insights.”

 

Hale joins JLL from Altus Group, a software company providing solutions to the commercial real estate industry, where she worked as a Director for more than 10 years.

 

“Now more than ever, the industrial real estate market is the linchpin of the global economy,” Hale said. “With the rise of this asset class has come increased sophistication in site and building design, tenant improvements and technological advancement in manufacturing, logistics, transportation and distribution.

Katie Parsons

Actively engaged in commercial real estate since 2005, Drosnock joins JLL from Bowery Valuation, a tech-focused commercial real estate appraisal startup, where she was Managing Director, growing the company’s footprint in the Mid-Atlantic.

 

Prior to Bowery, she was with the Philadelphia-based office of a top commercial real estate advisory and services firm, working within its Valuation & Advisory group and its National Industrial/Logistics team, where she was consistently a top producer.

 

She is an MRICS Designated Member of the Royal Institution of Chartered Surveyors and a member of NAIOP, ICIS, ULI, and the BIA of Philadelphia.

 

She is also involved with the Appraisal Institute, where she is currently working with the Regional VI Director on developing a University Relations Intern Program.

 

She has been invited to lecture at Temple University, Villanova School of Business and Lehigh University as an industry expert and a mentor to the next generation of commercial real estate advisors.

 

For more news, videos and research resources on JLL, please visit our newsroom.

  

U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

 

Contact

 

Kristen Murphy,

JLL Director,

 Public Relations

Phone: +1 617 543 4873

Email: Kristen.Murphy@jll.com

  ir.jll.com.