Blackstone Group affiliate buys three Florida hotels for $26.7M

A company affiliated with the Blackstone Group acquired three hotels for a total of $26.74 million.

The three properties sold were Hyatt Place Fort Lauderdale at 91 S.W. 18th Avenue in Dania Beach, which sold for $19 million; a neighboring Hyatt property at 90 S.W. 18th Avenue, which sold for $17.24 million; and the Hampton Inn & Suites in Tamarac, Fla., which sold for $9.49 million.

Bre Polygon Property Owner is named as the buyer for all three properties. The seller of all three properties is Palmetto Hospitality of Dania Beach, a company affiliated with OTO Development in South Carolina.

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The Hyatt parcels at 90 and 91 S.W. 18th Avenue were built in 2010. The Hampton Inn was built in 2009 and was previously sold in 2008 for $3 million.