Coral Springs Courtyard by Marriott seels for $16.25m

Boulder Hotel Management, based in Delray Beach, has closed on the purchase of the Courtyard by Marriott hotel in Coral Springs at a price of $16.25 million. Located at 620 North University Drive, the 110 unit property traded for just under $147,730 per room key. According to property records the buyer paid $12.25 million for the asset with the additional $3.75 million most likely spent for furnishings. The seller, Ontario-based Vista Group of Companies, bought the hotel for $6.9 million in 2015. Built in 2002 on a 3 acre site, common amenities include an outdoor pool, fitness center and meeting spaces. HTL Hospitality Advisors’ Bryan L. Gipson was the listing agent and also secured the buyer.