Tavistock Buys The Sails Land And Marina, Scores $50M Loan For Pier Sixty-Six Site In Fort Lauderdale
July 12, 2017 - The Real Deal Tavistock Development Company acquired a nearly 8.5-acre waterfront property and closed on a $50 million loan for the Hyatt Regency Pier Sixty-Six hotel and marina in Fort Lauderdale, The Real Deal has learned.
Property records show Tavistock paid $24 million for The Sails Hotel Marina & Shops site at 2040 Southeast 17th Street.
The Orlando-based firm used the financing to close on the Sails property, a spokesperson told TRD. Tavistock President Jim Zboril said in a statement that the firm doesn’t have immediate plans for the Sails property. Citibank provided the financing. The vacant site was formerly the Best Weston Hotel Marina Inn.
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