Rockpoint Buys Former Yankee Clipper Hotel for $117M
By Julia Echikson October 18, 2021 4:48 pm
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Boston-based Rockpoint Group paid $117 million for an oceanfront resort in Fort Lauderdale, Fla., that formerly housed the iconic Yankee Clipper hotel, property records show.
Now called the B Ocean Resort, the hotel is located at 1140 Seabreeze Boulevard, less than a mile south of Las Olas Boulevard, along a strip of oceanfront hotels.
Originally built in 1956, the sprawling property spans 6.1 acres, and includes four buildings with 484 rooms. Marilyn Monroe and Joe DiMaggio are said to have visited the hotel, which resembles a ship (hence the name, Yankee Clipper).
In 2017, the sellers — private equity giant The Carlyle Group and real estate investment InSite Group — rebranded the hotel as a B Ocean after investing in “multi-million dollar renovations.”
Three years earlier, the duo purchased the resort for $107 million from another real estate giant, Barry Sternlicht’s Starwood Capital Group, per records. In 2019, they scored a $130 million loan from Deutsche Bank.
RockGroup’s acquisition is $153 million short of 2021’s biggest hotel deal so far. Last month, Pebblebrook Hotel Trust purchased the Margaritaville Hollywood Beach Resort for $270 million, situated only 10 miles south of B Ocean.
Julia Echikson can be reached at jechikson@commercialobserver.com.
