Superyacht marina changes ownership in a US$163.3m deal that also includes the adjacent Hyatt Regency Hotel. The buyer is the Tavistock Development Company, an Orlando-based property development business. By David Robinson

Pier Sixty Six Ft Lauderdale

Pier Sixty Six in Ft Lauderdale, Florida

Pier Sixty Six marina, one of Ft Lauderdale’s leading superyacht berthing facilities, has changed ownership in a US$163.3m deal that also includes the adjacent Hyatt Regency Hotel. The buyer is the Tavistock Development Company, an Orlando-based property development business.

In a report from the South Florida Business Journal, the seller was not identified but it was suggested that Tavistock acquired the assets from an associate company of the Blackstone private equity group. The combined property is located on 22 acres alongside the Intracoastal waterway.

The marina provides 127 berths for superyachts up to 92m (302ft) and is one of the leading superyacht facilities in Ft Lauderdale and the surrounding area. The facility underwent a redevelopment in 2014 during which Marinetek supplied floating docks that were designed to avoid impact to seagrass and take wind, wave, tidal current and storm surges into account. The docks are wide and extremely stable with a high freeboard of 0.6 m and special attention was paid to utilities.

The site already includes a two-storey yacht brokerage office and Tavistock have permission to develop a further 30,000sq ft of office and retail space.