HOLLYWOOD, Fla.--(BUSINESS WIRE)--A joint venture led by Trinity Investments (“Trinity”) announced today the sale of two development parcels across from the 1,000-key The Diplomat Beach Resort (the “Diplomat”) in Hollywood, Florida. The parcels are within the Diplomat Landings site, located on 8 acres along the intracoastal waterway on the west side of Ocean Drive. The parcels were included in Trinity’s February 2023 acquisition of the Diplomat, the largest hospitality acquisition in 2023.
Diplomat Landings is connected to the Diplomat, which is located on 10 ocean-front acres on the east side of Ocean Drive, by a pedestrian bridge. Diplomat Landings is currently improved with 52,000 square feet of retail, a private marina, two above ground parking garages, and two development parcels, one of which is currently entitled for 350 residential units, and the other of which is entitled for 500 condo hotel units and 68,000 square feet of retail.
Trinity sold both Diplomat Landings parcels and the marina to a Miami-based real estate developer as Trinity continues to execute on its repositioning plan for the Diplomat to elevate service levels and the resort experience. Jaret Turkell at Berkadia brokered the transaction.
About Trinity Investments
Trinity is a vertically integrated real estate investment firm with a 27-year history of specializing in value-add opportunities. Based in Honolulu, with offices in Beverly Hills and London, Trinity focuses on unique real estate investments in world-class markets. As of December 2023, Trinity has invested more than US $9 billion in the United States, Mexico, Europe, and Japan by leveraging its deep institutional knowledge and longstanding local relationships. For additional information, please visit Trinity’s website at www.trinityinvestments.com. For updates on Trinity’s investment activity, follow Trinity on LinkedIn.
