The resort, developed by the locally based Kruse family, opened in December 2004. CVA purchased the resort from the Kruse family, but Chris Kruse will continue to manage the property upon behalf of CVA. CVA will change the name of the resort to Pelican Grand Beach Resort. Because the sale, which is expected to close no later than Dec. 1, has not been finalized the sales price was not disclosed, CVA president Ken Harris tells GlobeSt.com.
There will be 159 units for sale, 156 units that currently exist and another three that will be added. Units will have flat screen televisions with satellite service, high-speed Internet connections and access to all resort services, including concierge, room service, valet parking, an in-suite masseuse and housekeeping. An on-site sales center will open June 30. Prices for the units will range from the high $400,000s to the $800,000s and for the penthouses will range from $900,000s to $1.5 million.
Harris says CVA has completed many condominium conversions projects, but was attracted to the Pelican Beach Resort because of the current demand for hotel condominiums. The location of the project, directly on Fort Lauderdale Beach, was another attractive feature of the project. "It will literally be the only hotel condominium that sits directly on the ocean in Fort Lauderdale," Harris says.
CVA was founded by Harris, CEO Thomas Schmitt and COO William Schmitt. "We put our heart and soul into the creation of this property and chose to align with CVA because its principals share the same commitment to excellence that has been the hallmark of our resort since its opening," said Chris Kruse, in a prepared statement.
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