Rockpoint Buys Oceanfront Fort Lauderdale Hotel for $47M

Rockpoint and Newbond Holdings have paid $47.1 million for an oceanfront resort in Fort Lauderdale, Fla., property records show. 

Called Hotel Maren Fort Lauderdale Beach, the property features 141 rooms at 525 South Fort Lauderdale Beach Boulevard, adjacent to Seebreeze Boulevard, south of Las Olas Boulevard. Magna Hospitality Group sold the 245,081-square-foot hotel, which is part of Hilton’s Curio Collection. 

“Hotel Maren is a high-quality beachfront property in a compelling submarket with attractive long-term fundamentals,” Patrick Ryan, a managing director at Rockpoint, said in a statement. “We believe there is a meaningful opportunity to build on the hotel’s existing strengths through targeted enhancements of the property and guest experience.”

Apollo Global Management’s Athene Annuity & Life Assurance Company supplied a $47.7 million acquisition loan. 

A public deed listed the purchase price as $47.1 million, which likely valued only the hotel’s real estate. The final transaction value is probably higher to factor in the hotel’s business operations. A representative for Rockpoint declined to comment.

The seller, Magna Hospitality, purchased the hotel out of bankruptcy mid-construction in 2018, paying $39.1 million, The Real Deal reported. Three years later, the Rhode Island-based hospitality company completed the 12-story building on a 0.7-acre site. 

The Rockpoint sale comes less than a month after El-Ad National Properties paid $60 million for another oceanfront hotel in Fort Lauderdale: the 1.2-acre, 99-room Sea Club Resort. 

Rockpoint, a private equity firm, has long been a major player in South Florida real estate. This year, the Boston-based firm has nabbed two construction loans each worth more than $100 million to build multifamily projects in Boca Raton and Palm Beach Gardens. 

It’s also a backer of Related Group and Two Roads Development’s luxury, oceanfront condo project in Bal Harbour, which obtained a $424 million construction loan in 2024. 

A representative Magna Hospitality Group did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.