Rockpoint buys old Yankee Clipper hotel for $ 117 million – Commercial Observer

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Boston based Capital of Rockpoint paid $ 117 million for a beachfront resort that once housed the iconic Yankee mower hotel in Fort Lauderdale, Florida, according to property records.

Now called the B Ocean Resort, the hotel is located 1140 Seabreeze Boulevard, less than a kilometer south of Las Olas Boulevard, along a strip of beachfront hotels.

Originally built in 1956, the sprawling property spans 6.1 acres and comprises four buildings with 484 rooms. Marilyn monroe and Joe DiMaggio reportedly visited the hotel, which looks like a ship (hence the name, Yankee Clipper).

In 2017, sellers – private equity giant The Carlyle Group and real estate investment InSite Group – renamed the hotel in B Ocean after investing in “multi-million dollar renovations.

Three years earlier, the duo had bought the complex for $ 107 million from another real estate giant, Barry sternlicht‘s Starwood Capital Group, by records. In 2019, they secured a $ 130 million loan from German Bank.

The RockGroup acquisition is $ 153 million off the biggest hotel deal of 2021 to date. Last month, Pebblebrook Hotel Trust purchased the Margaritaville Hollywood Beach Resort for $ 270 million, located just 10 miles south of B Ocean.

Julia Echikson can be reached at [email protected]


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