Hotel Transaction Florida

291 Room Holiday Inn & Suites Sawgrass Mills Sold to Carmichael Hospitality Partners

Carmichael Hospitality Partners (CHP), a joint venture between real estate investors Steven Hurowitz and Jeff Krinsky, acquired the 291-room Holiday Inn & Suites Sawgrass Mills this past December in a deal brokered by Marcus & Millichap. CHP will manage the renovation and rebrand the property as the SAWGRASS GRAND.

Hotel News Resource Carmichael Hospitality Partners (CHP), a joint venture between real estate investors Steven Hurowitz and Jeff Krinsky, acquired the 291-room Holiday Inn & Suites Sawgrass Mills this past December in a deal brokered by Marcus & Millichap. CHP will manage the renovation and rebrand the property as the SAWGRASS GRAND.

The property is well-known to sports enthusiasts as a one-of-a-kind, soccer and rugby friendly, sports complex. It hosts many of the leading international teams through KICS International. The Sawgrass Grand will continue to serve as a world-class training center, offering sports teams all-inclusive training packages complete with customized team meal planning, overnight accommodations and meeting services.

Located west of downtown Fort Lauderdale, the SAWGRASS GRAND provides accessibility to world-class amenities and more than 6.4 acres of stay-and-play space off Sunrise Boulevard. At the epicenter of South Florida's best entertainment, dining and attractions, the hotel is conveniently located less than 10 miles from Ft. Lauderdale International Airport, beautiful beaches, South Florida nightlife on Las Olas Boulevard, popular attractions and several major highways.

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The scenic property caters to international and domestic corporate and leisure travelers with close proximity to the Sawgrass Mills Mall, which features more than 350 stores, 40 designer outlets, 23 movie theaters and more than 30 restaurants and is the second most popular tourist attraction in Florida; the BB&T Center, concert venue and home of the Florida Panthers (NHL), and Nova Southeastern University.  

Designed by Mabel Norman of Acropolis Interior Design, the SAWGRASS GRAND will showcase a contemporary and clean aesthetic throughout the lobby and guest rooms, which accommodate up to six people with single and double beds. In-room amenities include a 42" HD TV with DirectTV, executive work desk, complimentary local calling, sofa beds and kitchenettes in the suites.  Complimentary WIFI and high-speed Internet access is available throughout the property.

Property amenities include a tropical courtyard with outdoor swimming pool, waterfalls and shaded seating, an outdoor event lawn for field sports, dedicated workstations, an executive business center, a state-of-the-art fitness center equipped with cardio and Nautilus® equipment and 7,590 square feet of meeting and event space including two large ballrooms that can seat up to 400 people.

On-site food and beverage includes room service and a grab and go café serving breakfast, espressos, cappuccinos, pastries, fruit and fresh juices. A full-service restaurant serving lunch and dinner is slated to launch later this summer.

Hurowitz and Krinsky formed CHP in 2014 as a joint venture to significantly grow their private equity funded real estate portfolio through the acquisition of existing hotels and adaptive reuse of functionally obsolete commercial buildings.

An expert on tourism between South America and Florida, Hurowitz has established himself as an industry leader in growing hospitality companies over the last 25 years. Most recently he steered the $20 million redevelopment of the iconic Newport Beachside Hotel & Resort in Sunny Isles Beach and developed a full-service travel company that serves more than 100,000 travelers annually.

Krinsky has more than 25 years of experience in the real estate industry. For the past 18 years, he has been the managing principal for Panther Capital Management, a diversified Miami-based real estate company active in the ownership of commercial and residential properties. He is recognized for the acquisition and development of nearly 2 million sq. ft. of commercial properties across South Florida and the development of an additional 750,000 sq. ft. of residential projects in Palm Beach County.

Located west of downtown Fort Lauderdale, the SAWGRASS GRAND offers accessibility to world-class amenities and more than 6.4 acres of stay-and-play space overlooking KICS International sports complex. The hotel is conveniently located less than 10 miles from the Ft. Lauderdale International Airport and the city's pristine beaches and minutes away from Sawgrass Mills Mall and South Florida nightlife on Las Olas Boulevard. 

Carmichael Hospitality Partners, LLC is a joint venture between Avenue Hospitality Associates, LLC and Panther Capital Management, LLC. These longstanding and successful companies have joined together to significantly grow an existing hotel portfolio, primarily through the acquisition of existing but distressed hotels and the adaptive reuse of functionally obsolete commercial buildings that have floor plates conducive to redevelopment into limited or full-service hotels.