Tavistock Development Company buys Fort Lauderdale Hyatt

(CBRE Group facilitated the deal between the seller and Tavistock Development Company, and the hotel and Pier Sixty-Six Marina will continue to be operated by Interstate Hotels & Resorts.)

Tavistock Development Company, an Orlando-based real estate development firm owned by Joe Lewis’ Tavistock Group, acquired Fort Lauderdale’s Pier 66 Marina and Hyatt Regency Hotel.

Located at 2301 Southeast 17th Street and on 22 waterfront acres along the Intracoastal Waterway, Pier 66’s 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 guestrooms, the property also 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 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. 

Tavistock currently has investments in more than 200 companies in 15 countries. Other projects in Tavistock’s portfolio include:

  • Albany, a 600-acre luxury resort community in The Bahamas jointly owned by Tavistock Group along with golfing greats Tiger Woods and Ernie Els. Albany offers custom residences, a boutique resort and collection of amenities including a championship golf course, mega-yacht marina, restaurants, spa, fitness center, water sports and pools, equestrian activities, tennis and boxing.
  • The St. Regis Atlanta, located in the heart of Buckhead, is a 26-story luxury hotel and towers including 151 guestrooms and suites, and 53 St. Regis Residences. The property has 16,000 square feet of meeting and event space; a fitness facility; exquisite 40,000-square-foot Pool Piazza; 7,800-square-foot Remède Spa; two bars; and Astor Court, the resort’s 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 a 14-square-mile master-planned community in Orlando. One of the nation’s fastest growing communities, Lake Nona will have millions of square feet of commercial space, thousands of hotel rooms, more than 25,000 residents and hundreds of shops and restaurants.
  • Tavistock Restaurant Collection also 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.