Deal Closes in Foley-Led Hotel Sale

28 January 2014 Media Contact: Jill Chanen News
Foley recently represented 551 North FLB Marketing, LLC in selling the former Trump International Hotel and Tower Fort Lauderdale. The negotiations ultimately led to a $115 million sale of the 24-story prime oceanfront property located at 551 N. Fort Lauderdale Beach Boulevard.

The buyer plans to convert the property into a luxury Conrad Hotel & Resort (a Hilton brand). The negotiations and closing were spearheaded by Dario Carnevale, who helped the seller work around the complex litigation affecting the property and reach a sales agreement with the buyer, CFLB Partnership LLC. He, together with the Foley team, also helped to clean up legal issues, such as investor lawsuits and a bankruptcy filing, to move the deal to conclusion.

The team sought to maximize the value of the property, and the transaction closed December 20, 2013, with the overall sales process taking approximately one year.

The Foley team included: Emerson Lotzia, Joel Solomon and Tana Stringfellow.

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