Driftwood Capital Acquires Weston Marriott for $22.75M
Ashford Hospitality divests its 174-room Courtyard by Marriott property in Weston to Driftwood Capital in a transaction valued at approximately $131,000 per key. Fifth Third Bank provided $19.3 million in acquisition financing.
Driftwood Capital has acquired the Courtyard by Marriott in Weston for $22.75 million, marking another significant hotel transaction in South Florida's active hospitality market. The seller, Ashford Hospitality, divested the 174-key property located at 2000 North Commerce Parkway at a price point of approximately $131,000 per room.
Fifth Third Bank structured the acquisition financing, providing Driftwood Capital with a $19.3 million loan to complete the purchase. The financing arrangement represents roughly 85% of the total transaction value, indicating strong lender confidence in both the asset and the acquiring entity.
The Weston hotel sale occurred alongside several other notable real estate transactions throughout South Florida. In Palm Beach's exclusive Mar-a-Lago security zone, a 6,532-square-foot residence at 201 Via Bellaria changed hands for $17.9 million. The property sold from the Ryna Greenbaum Living Trust, with trustees Craig Hammer and Bradford Hammer completing the transaction with Adam and Carolina Rodman. Adam Rodman serves as founder and CEO of energy investment firm Segra Capital.
Miami's multifamily sector also saw substantial activity with a mixed-use building at 1925 Southwest 3rd Street selling for $11 million. The property combines 24 residential units with 12,016 square feet of retail space, achieving a per-unit price of $458,000. Tropical Apartments LLC transferred ownership to Commercial Rental Investments in the transaction.
Luxury residential sales continued their momentum in Miami Beach, where an oceanfront condominium at 7600 Fisher Island Drive sold for $12.7 million. The 4,000-square-foot unit achieved $3,200 per square foot, representing a premium over its previous $11.8 million sale price from July 2024. Broadway Realty I Co, which filed for Chapter 11 bankruptcy protection, sold the property to Summit Properties USA.
South Miami's high-end residential market contributed additional volume with a newly constructed 5,000-square-foot home at 5847 Southwest 81st Street selling for $6.2 million. The property, completed in the previous year, achieved $1,247 per square foot in the transaction.
These transactions reflect continued investor appetite across South Florida's commercial and residential real estate sectors, with hotel assets attracting particular attention from institutional buyers seeking hospitality exposure in the region's tourism-dependent economy.
