Recent transactions include an Autograph Collection hotel acquired by Wheelock Street Capital and Beemok Capital purchasing the Charleston Place hotel
Wheelock Street Capital acquires The Ben – West Palm Beach
Wheelock Street Capital has acquired The Ben – West Palm Beach, a 208-room Autograph Collection hotel located in West Palm Beach, Florida.
Built in 2020 as the first soft-branded hotel in Palm Beach County, the 208-room property is the centerpiece of Flagler Banyan Square, a 435,000-square-foot lot. mixed use lifestyle project. Located close to downtown West Palm Beach, the development includes residential, dining, retail and other amenities, while The Ben offers a full-service restaurant, 7,800 square feet of event space, an rooftop ballroom, rooftop pool and furnished terrace. overlooking the city marina, the Intracoastal Waterway and the island of Palm Beach.
Concord Hospitality was instrumental in the conception, development and launch of the concept of the property. The company, which operates a portfolio of more than 130 hotels, including 23 hotels in Florida, will continue to keep management responsibilities under the ownership of Wheelock.
CBRE Group Inc. organized the sale of the property.
Beemok Capital completes the acquisition of Charleston Place
Beemok Capital, the family office of Charleston businessman and philanthropist Benjamin Navarro, has completed the acquisition of the Charleston Place Hotel. Financial terms of the transaction were not disclosed.
The Charleston Place acquisition is in line with Beemok Capital’s strategy to support Charleston revitalization, according to the company. The hotel is the flagship asset of Beemok Hospitality Group, a Beemok Capital vertical that invests in premier hotel, restaurant and entertainment assets. Beemok will make a significant investment in revitalizing the iconic property and plans to start improving the property over the next 18 months.
Other current assets of Beemok Hospitality Group include an investment in Hotel Domestique, a luxury hotel at the foot of the Blue Ridge Mountains in Travelers Rest, SC, and control of Credit One Bank Stadium and LTP Tennis Center. in Charleston.