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January 14, 2013

Northwood invests in three Florida Keys hotels

Global real estate investment firm Northwood Investors, in partnership with original developer Pritam Singh, has invested in three properties in the Florida Keys - the Parrot Key Resort, Tranquility Bay Beach House Resort and a development site in Key West at the Seaport at Key West Bight.

By admin-demo

Global real estate investment firm Northwood Investors, in partnership with original developer Pritam Singh, has invested in three properties in the Florida Keys – the Parrot Key Resort, Tranquility Bay Beach House Resort and a development site in Key West at the Seaport at Key West Bight.

Northwood Hospitality, an affiliate of Northwood Investors, will operate the hotels.

Pritam Singh will remain a partner in the ownership of the properties, and will focus on the development of the new 96-room hotel at the Seaport at Key West Bight and the addition of 16 rooms at Tranquility Bay.

"This property will deliver the same calibre of luxury and innovation found in the New York Palace, Cheeca Lodge and Revere Hotel Boston Common."

Parrot Key, a 148-room full-service hotel and resort situated on the Florida Bay, features one and two-bedroom suites, tropical sculpture gardens, four swimming pools, an outdoor Café Blue and tiki bar, a sunset pier, watersports and a private sandy beach terrace.

Tranquility Bay in Marathon, Florida, features 87 two- and three-bedroom townhouses and the Butterfly Café.

A lagoon-style family swimming pool, a private adults-only pool, a salt-water swimming lagoon, a fitness room, a sunset gazebo, Putting Greens by Nicklaus Design, private spa services and TJ’s Tiki Beach Bar are among the other amenities available at the hotel.

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The forthcoming luxury hotel at Key West Bight is slated to open in 2014.

Speaking about the new hotel, Northwood Hospitality president David McCaslin said: "This property will deliver the same calibre of luxury and innovation found in the New York Palace, Cheeca Lodge and Revere Hotel Boston Common."

Northwood Investors managing director Jonathan Wang said: "We continue to focus on strong markets and high quality real estate and have the flexibility to structure our investments in a way most advantageous to all parties."

Other hotels in the Northwood Investors portfolio include the New York Palace Hotel, Revere Hotel Boston Common and Cheeca Lodge and Spa in Islamorada, Florida.

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