MIAMI—The iconic 346-room W Fort Lauderdale Hotel has tradedhands. An affiliate of Related Fund Management,headed by Miami Dolphins owner Stephen Ross,acquired the hotel for $90 million.
CBRE and The Ackman-Ziff Real EstateGroup represented the seller. The asset, which featuresresidences and hotel rooms, is located at 401North Fort Lauderdale Beach Boulevard.
The sale included the hotel portion of theproject and 147 of 171 residential units within The Residences at WFort Lauderdale. The twin 23-story towers stretching along a fulloceanfront block in Fort Lauderdale at 3101 North BayshoreDrive.
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