The sales come as reduced real estate prices and a tourism rebound from the 2009 recession lure inve

The 37-unit hotel and apartment building at 3030 Harbor Drive a block west from the beach was sold to a Miami-based company to be run by Drew Kristol, a senior associate at  Marcus Millichap Real Estate Investment Services .
Changing tucson arizona vacation rentals hands in the Keys is  Cheeca Lodge Spa , a landmark luxury destination ranked as one of Travel Leisure's "500 Greatest Hotels in the World.   It has long been a favorite of former President George H.W. Bush.
The 27-acre property on Islamorada is a 214-unit gated resort community with a mix of hotel rooms and condominiums, a Jack Nicklaus-designed 9-hole golf course, two swimming pools, a spa , tennis courts and a fishng/mooring pier, among other amenities. It sits on 1,200 feet of beachfront land. Founded in 1946, the resort underwent a $30 million renovation in 2005, brokers said.
Cheeca was sold to New York-based Northwood Investors ,  a privately-held real estate investment firm founded in 2006 by John Z. Kukral, the former president of chief executive of Blackstone Real Estate Advisors.  The firm has more than $2 billion in real estate assets, including the New York Palace Hotel and Alden Houston Hotel.
The sales come as reduced real estate prices and a tourism rebound from the 2009 recession lure investors to South Florida. The Bahia Beach property in Fort Lauderdale, for example, had sold for $2.7 million in 2002, brokers said.
Other recent hotel deals include the $61 million purchase by Weston s Insite Group of Weston and London s Cube Capital of the 251-unit Continental Oceanfront South Beach Hotel in Miami Beach. The partners plan to upgrade the hotel and relaunch it as part of the new South Florida -based brand, B Hotels Resorts.    (See our post on that deal here .)
About the authors tucson arizona vacation rentals Arlene Satchell covers retail, marine industry and telecom trends tucson arizona vacation rentals for the Sun Sentinel. The travel buff and adventure lover is always looking for new places to explore. Doreen Hemlock writes about tourism, international business and other beats for the Sun Sentinel since 1996. She's visited more than 50 nations and lived 17 years in Latin America and the Caribbean. Connect with us
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