Thayer Lodging Group has purchased the Hilton Fort Lauderdale Marina for US$170 million.

A subsidiary of Brookfield Asset Management, Thayer acquires the third largest hotel in Broward County with 589 rooms, a 33-slip marina, business center, meeting facilities, fitness center, jogging track and a swimming pool.

Built on nine acres of land along the Intracoastal Waterway in 1980 and 1981, the facility has been renovated several times, most extensively in 2008 and is strategically located amid several high-use facilities that include the Greater Fort Lauderdale/Broward County Convention Center, Port Everglades and the Fort Lauderdale-Hollywood International Airport.

The sale was brokered by CBRE Hotels on behalf of seller, an affiliate of the New York-based The Blackstone Group, which purchased the property in 2006.

In December, Blackstone sold the Hyatt Regency Pier Sixty-Six hotel and marina in Fort Lauderdale for US$163.27 million, and also sold its lease on the Bahia Mar in Fort Lauderdale in July 2014.