JLL Completes Sale, Financing For Sheraton Suites In Plantation

JLL’s Hotels & Hospitality Group arranged the sale and secured acquisition financing for the Sheraton Suites Fort Lauderdale West, a 265-room all-suite hotel prominently positioned along University Drive in the heart of Plantation’s rapidly expanding mixed-use district.

JLL represented the seller, Everwood Hospitality Partners, in the transaction. The acquisition was completed by the Canada-based Artifact Group, in partnership with Miami-based Rok Acquisitions. JLL worked on behalf of the buyer to secure a floating-rate, three-year loan through CIM Group.

The property stands as the centerpiece of Plantation Walk, a vibrant mixed-use development featuring more than 1,100 luxury apartments, 200,000 square feet of Class A office space, 205,000 square feet of medical office space and 220,000 square feet of premium retail, restaurant and entertainment venues. The hotel offers exceptional visibility and walkability within this live-work-play environment, positioning it as the premier lodging option in West Broward County.

The Sheraton Suites Fort Lauderdale West ranks as the number two hotel in Plantation on TripAdvisor and leads its competitive set in revenue per available room performance. The property features spacious all-suite accommodations averaging 438 square feet, which is 20 percent larger than competing hotels in the market. Every guestroom includes a separate living room with sleeper sofa, double vanities, work desk and in-room amenities including mini-refrigerators and microwaves. Half of the rooms have undergone tub-to-shower conversions.

The hotel offers 7,900 square feet of flexible meeting space across seven event spaces, including a 2,300-square-foot ballroom that can accommodate up to 600 attendees. Additional amenities include a rooftop pool and hot tub, fitness center, three-meal restaurant, full-service bar featuring Starbucks coffee and an exclusive Marriott Bonvoy Elite Club Lounge. The property provides 304 parking spaces in an adjacent parking garage.

The new ownership plans to invest $10 million in a brand-mandated property improvement plan that will refresh guestrooms and corridors, further enhancing the hotel’s competitive position in the market. Current ownership completed approximately $12 million in renovations since acquisition, including a comprehensive facade restoration in 2024 and thorough modernization of common areas and meeting spaces.

Plantation has emerged as a high-growth suburban market within Broward County, offering exceptional accessibility via Interstate 595 and the Florida Turnpike. The city is home to nearly 100,000 residents with an average household income approaching $100,000. Fort Lauderdale-Hollywood International Airport, which served 35.2 million passengers in 2024, sits within a 20-minute drive of the property. Port Everglades, located 20 minutes away, welcomed a record 4.1 million cruise passengers in 2024.

The JLL Hotels & Hospitality team was led by Senior Managing Director Andrew Dickey, Senior Directors Maciej Polek and Wyatt Krapf, Senior Associate Jesse Pohl, Associate Henry Winchester and Analyst Mason Greif.

“The property’s exceptional fundamentals, including the largest all-suite inventory in Plantation and market-leading performance metrics, combined with its integration into one of South Florida’s premier mixed-use developments, created a unique value proposition for investors,” said Dickey. “The new ownership is well-positioned to capitalize on continued demand growth in West Broward County while executing value-add initiatives that will further enhance the hotel’s competitive positioning and profitability.”

 

“Plantation Walk represented exactly the kind of mixed-use, amenity-rich environment that supports durable lodging demand, and this asset performed throughout our hold,” added Amit Govin, Managing Principal of Everwood Capital Partners. “We are grateful to the JLL team for their execution on this transaction. Proceeds will be redeployed across Everwood’s hospitality equity pipeline and Fair Harbor Lending, our affiliate private credit platform focused on commercial real estate financing.”