The Hyatt Regency Jacksonville Riverfront hotel on Jacksonville’s Downtown Northbank was sold Aug. 31 for almost $110 million.
That was just 10 days before floodwaters from Hurricane Irma shut the 951-room hotel, which remained closed Friday.
According to the deed filed Thursday with the Duval County Clerk of Courts, the hotel was sold by Jacksonville Hotel 2014 Purchaser LLC to MCSW JAC Hospitality LLC for $109,965,500.
The seller is a subsidiary of New York-based Fortress Investment Group, which bought the hotel for $53 million in a foreclosure action in 2014.
MCSW shares an address with Westmont Hospitality Group, based in Houston. According to its website, privately held Westmont has an ownership interest in more than 500 hotels worldwide.
Westmont and Fortress Investment Group representatives did not return calls Friday afternoon.
“The Hyatt Regency Jacksonville Riverfront continues to be managed by Hyatt and the recent sale does not affect normal hotel operations,” said Luis Aloma, the hotel's general manager, in an emailed statement.
The property includes the former Daniel Building, which is used as meeting rooms, and its parking garage.
The hotel, at 225 E. Coastline Drive, was built as the Adams Mark in 2001. It was sold in 2005 for $67 million to become the Hyatt.
In 2015, the hotel underwent extensive renovations, adding more meeting rooms and upgrades to lounges and amenities.
In addition to being Jacksonville’s largest hotel, the Hyatt has 30 meeting rooms and is often a destination for conferences and large groups.
The hotel sustained heavy ground-floor damage during Hurricane Irma when storm surge flooded the building.
Morton’s The Steakhouse, which opened on the first floor in June, also remains closed as the hotel cleans up from Irma.
The Duval County Property Appraiser has assessed the hotel value at $50 million and the garage at $3.8 million as of 2017, for a total assessed value in progress of almost $54 million.
