LaPlaya Beach Resort sells for $182.3 million

BUYER: Hazel Owner LLC (Pebblebrook Hotel Trust), Bethesda, Md.
SELLER: LaPlaya LLC
PROPERTY: 9876, 9880, 9891 and 9895, Gulf Shore Drive, Naples
PRICE: $182.3 million
PREVIOUS PRICE: $48.27 million, January 2000
LAW FIRM ON DEED: Greenberg Traurig PA, Orlando

PLANS, DESCRIPTION:
The Pebblebrook Hotel Trust purchased the real estate for the 189-room LaPlaya Beach Resort & Club in Naples for $182.3 million.

The price equated to $964,550 per room.

The six-acre property features 600 feet of beach frontage on the Gulf of Mexico, the Baleen Restaurant, a tiki bar, 4,500-square foot day spa, swimming pools, a 23-slip marina and seven-story parking garage.

The sellers, Halstatt and Noble House Hotels & Resorts, say they invested $54 million in improvements and additions to the property, including the creation of a Beach Club in 2002.

The resort will continue to be managed by Noble House Hotels & Resorts.

HFF represented the sellers.