TAVISTOCK DEVELOPMENT COMPANY PURCHASES FT. LAUDERDALE’S PIER SIXTY-SIX MARINA & HYATT REGENCY HOTEL
Tavistock Development Company, an Orlando-based real estate development firm owned by Joe Lewis’ Tavistock Group, announces the acquisition of Fort Lauderdale’s Pier Sixty-Six (Pier 66) Marina and Hyatt Regency Hotel.
Set on 22 waterfront acres at 2301 Southeast 17th Street along the Intracoastal Waterway, Pier 66’s 17-story main tower is an architectural icon of the Fort Lauderdale skyline with its famous rotating panorama rooftop. The 127-slip mega-yacht marina is one of the largest in the state and recently served as a host location of the 56th Fort Lauderdale International Boat Show.
In addition to the existing 384 hotel rooms, the property also has approved entitlements for the addition of 58 residential units in two 11-story buildings with 30,000 square feet of retail and office space.
“When we first discovered that this special property was available, we knew there were incredible opportunities to leverage the collective experience of our teams and further establish this iconic hotel and marina as one of Fort Lauderdale’s defining destinations,” said James “Jim” L. Zboril, President of Tavistock Development Company. “We are very excited for what the future holds with this next chapter of Pier Sixty-Six.”
The hotel and marina will continue to be operated by Interstate Hotels & Resorts. CBRE Group, Inc. facilitated the deal between the seller and Tavistock Development Company, including the property acquisition and attendant redevelopment rights. Information related to the development’s future renovation plans will be announced in 2017.
With investments in more than 200 companies in 15 countries, Tavistock Group’s holdings are diverse and significant in scale. No stranger to large-scale real estate development and first-class hospitality, Tavistock’s portfolio is highlighted by marquee projects, including:
- Albany is a 600-acre luxury resort community in The Bahamas jointly owned by Tavistock Group along with golfing greats Tiger Woods and Ernie Els. Albany features custom residences, a boutique resort and collection of world-class amenities including a championship golf course, mega-yacht marina, restaurants, spa, fitness center, water sports and pools, equestrian activities, tennis, and boxing. Albany Marina is a premiere yachting destination with one of the largest berthing facilities in the Caribbean accommodating yachts up to 300 feet in length.
- The St. Regis Atlanta, located in the heart of Buckhead, is a 26-story luxury hotel and towers including 151 guest rooms and suites, and 53 St. Regis Residences. Noted as one of the “World’s Top 100 Properties” by Travel + Leisure Magazine, the property features 16,000 square feet of meeting and event space; a state-of-the-art fitness facility; exquisite 40,000 square foot Pool Piazza; 7,800 square foot Remède Spa; two exclusive bars; and Astor Court, the resort’s distinctive upper lobby restaurant, and Atlas, a chef-driven dining experience including more than a dozen modern, 20th-century works of art including Picasso, Chagall, and Soutine.
- Lake Nona is an innovative 14-square-mile master-planned community in Orlando. One of the nation’s fastest growing communities, Lake Nona will feature millions of square feet of commercial space, thousands of hotel rooms, 25,000+ residents and hundreds of shops and restaurants. The community has been lauded by Fortune Magazine, as ‘how to build a great American city.’
- Tavistock Restaurant Collection operates 16 unique restaurant concepts across the country, including Abe & Louie’s in Boca Raton and Timpano, which has a location on Las Olas Boulevard in Fort Lauderdale.
ABOUT TAVISTOCK DEVELOPMENT CO.
Tavistock Development Company is a diversified real estate firm owned by Tavistock Group specializing in planning, design, finance, construction and development. Tavistock Development Company’s real estate portfolio is highlighted by the 14-square-mile, master-planned community Lake Nona in Orlando, Florida, in addition to its infrastructure network, residential, office and retail development and medical and educational institutions. For more information, visit tavistockdevelopment.com.
ABOUT TAVISTOCK GROUP
Tavistock Group is an international private investment organization founded by Joe Lewis. With investments in more than 200 hundred companies across 15 countries, Tavistock Group’s investment portfolio includes: life sciences, sports teams and sporting events, manufacturing and distribution, oil, gas and energy, financial services, restaurants, commercial properties, private luxury residential properties, resort properties and master-planned real estate developments. For more information, visit www.tavistock.com.