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Credit Suisse Asset Management, Trinity Real Estate Investments Acquire The Diplomat Beach Resort in Hollywood
A joint venture between non-US offered real estate funds managed by Credit Suisse Asset Management and real estate funds managed by Trinity Fund Advisors, LLC, an affiliate of full-service private real estate investment firm Trinity Real Estate Investments, LLC, have acquired The Diplomat Beach Resort in Hollywood, FL from a Brookfield private real estate fund.
Jeffrey Davis, Gregory Rumpel, Kevin Davis and Gilda Perez-Alvarado of JLL represented the seller.
The purchase marks Trinity GP Fund I L.P.’s eighth investment since its final closing in June 2021, representing $2.1 billion in total transaction value. According to the buyers, Credit Suisse Asset Management and Trinity Real Estate Investments, LLC are seeking to capitalize on the rebound in the US convention hotel market and on the strength of FL’s local economy.
The new owners have signed a management agreement with Hilton to oversee the resort’s operations under the Curio Collection by Hilton flag.
The Diplomat Beach Resort has completed a $90-million renovation and offers more than 1,000 rooms and 200,000 square feet of meeting and event space.
Law firm Akerman, LLP represented Credit Suisse Asset Management.
- ◦Sale/Acquisition
