Fort Lauderdale, Fla.—Tavistock Development Co. has acquired Fort Lauderdale’s Pier 66 Marina and Hyatt Regency Hotel, a 127-slip mega-yacht marina and a 384-key hotel, in Fort Lauderdale, Fla., from the Blackstone Group for $163 million.
“Pier 66 has been an iconic waterfront property for decades, in an ideal location, in the yachting capital of the world,” Jim Zboril, Tavistock Development Co.’s president, told Commercial Property Executive. “It is the right project in the right market in an industry segment we love.”
The property also has approved entitlements for the addition of 58 residential units in two 11-story buildings with 30,000 square feet of retail and office space.
Located on 22 waterfront acres at 2301 Southeast 17th St., along the Intracoastal Waterway, Pier 66’s 17-story main tower is an architectural icon of the Fort Lauderdale skyline with its famous rotating panorama rooftop.
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