Ritz-Carlton Fort Lauderdale changes hands

 

hsampson@MiamiHerald.com

The Ritz-Carlton Fort Lauderdale, which opened in 2007 as a St. Regis, has sold to new owners.

Affiliates of Gencom, a Miami company that owns other Ritz-Carlton hotels, and Atlanta-based Invesco Ltd. purchased the property from Castillo Grand, the company that developed the project at 1 N. Fort Lauderdale Beach Blvd. The hotel will remain a Ritz-Carlton.

Financial terms of the deal were not disclosed. HFF marketed the property on behalf of Castillo Grand.

The hotel, which has 166 rooms and suites and 34 condo-hotel units, was originally a St. Regis when it opened in 2007. But after St. Regis parent Starwood ended its management contract in 2008, Ritz-Carlton came on board as the operator. The developer was the victor in a lawsuit over the dispute, winning a $43 million judgment.

Read more Breaking News - Business stories from the Miami Herald

  •  
Recently filled, a tanker truck drives past railway cars containing crude oil on railroad tracks in McClellan Park in North Highlands just outside the city limits of Sacramento, Calif. (Randall Benton/Sacramento Bee/MCT)

    DOT proposes 2-year phase-out of older tank cars for crude oil trains

    The U.S. Department of Transportation proposed a two-year phase-out of older tank cars used to transport crude oil by rail, among other measures to improve the safety of crude oil transportation by rail.

  • Lowcountry groups hold another homeowner workshop

    Following a strong turnout last month, several nonprofit groups are holding another Lowcountry workshop for homeowners in danger of defaulting on their mortgages or worried they may fall behind on their payments.

  •  
FILE - This Nov. 6, 2013, file photo shows a BNSF Railway train hauling crude oil near Wolf Point, Mont. Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed in response to a series of fiery train crashes over the past year. Transportation Secretary Anthony Foxx said the government's testing of crude oil from the Bakken region of North Dakota and Montana shows the oil is on the high end of a range of volatility compared with other crude oils, meaning it's more likely to ignite if spilled.

    New safety rules proposed to curb oil train fires

    Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed Wednesday in response to a series of fiery train crashes over the past year, including a runaway oil train that exploded in the Quebec town of Lac-Megantic, killing 47 people.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category