Miami, FL - Key International, a leading real estate development and investment firm, has completed the purchase of the award-winning The Perry Hotel on the waterfront in Key West as part of an ambitious expansion of its $2 billion portfolio.

The addition of The Perry Hotel speaks to our vision to bring together quality brands and memorable experiences with our excellent customer service. As an investment, The Perry Hotel purchase continues to build on our strategy of identifying and adding properties with great brand recognition. Michael Vassilaros, Chief Investment Officer for Key International

The acquisition of The Perry Hotel comes on the heels of the completion of two new ground up developments: the 255-key Embassy Suites by Hilton Panama City Beach Resort adjacent to Pier Park and the 156-key SpringHill Suites by Marriott in Jacksonville Beach, Florida.

Paul Weimer, Christian Charre, Andrew Pastorino, and Jennifer Jin with CBRE Hotels in Miami, alongside Julie Fisher Berry and Sheila Roux with the CBRE Marina Investments team in Fort Lauderdale, represented the sellers, SIMV Hotel 1 LLC and Longstock II, LLC, in the transaction.

The purchase of The Perry Hotel is a milestone for Key International that sets the stage for continued quality growth over the next 12 months. Shawn Gracey, Executive Vice President of Hospitality for Key International

The Perry Hotel, at 7001 Shrimp Rd., Naval Air Station Key West, has 100 rooms with views of the picturesque marina, two outdoor pools that overlook the waterfront and two restaurants including the highly-rated Matt’s Stock Island Kitchen & Bar and Salty Oyster Dockside Bar & Grill. The hotel sits four miles east of downtown Key West on Stock Island, which is also home to the Key West Golf Course and within proximity of the Florida Keys National Marine Sanctuary and the popular Vandeberg wreck dive. Having opened in 2017, The Perry Hotel is winner of the Condé Nast Traveler Readers’ Choice Award in 2021 and the Tripadvisor Traveler’s Choice Award in 2021. Key International selected EOS Hospitality, a full-service hotel management company that specializes in operating luxury urban hotels and beach resorts in drive-to destinations to manage the hotel.

The resort generated strong investor interest because of its location at the gateway to Key West, which is the strongest hotel market in the United States. CBRE Hotels worked with the CBRE Marina & Shipyards Investments team to identify qualified buyers that would purchase the entire property, which also included the largest marina in the Florida Keys, and build on the legacy created by the owners. Paul Weimer, an Executive Vice President with CBRE in Miami

​​Within the same community, adjacent to The Perry Hotel, is The Perry Marina which was simultaneously acquired in a separate venture by Integra Marinas, a subsidiary of Miami-based Integra Investments; the 288-slip marina will be operated independently.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About EOS Hospitality

EOS Hospitality is a full-service hotel management company that specializes in operating luxury urban hotels and beach resorts in drive-to destinations Founded in 2017, EOS has grown at a rapid pace, more than doubling in size every year since 2019. Starting with one hotel in 2017 (Hamilton Hotel in D.C.), the company now operates a portfolio of over 40 hotels with more than 6,000 keys, making the group one of the fastest growing hotel companies in the U.S. www.eoshospitality.com.

About Key International

Key International is a global real estate development and investment firm with over $8 billion in projects and operations in Florida, Spain and Portugal. Since its inception in 1970, the firm has been a driving force in the growth of South Florida's real estate market, as developers and owners of high profile properties including the Eden Roc Resort Miami Beach, the Marriott Stanton Hotel South Beach and the 848 Brickell Avenue office building. Key International has also led the way as developers of marquee residential projects including 1010 Brickell, 400 Sunny Isles, Mint and Ivy on the Miami River, Parks at Delray and Waterways Luxury Apartments & Marina in St. Petersburg. Its hospitality division has nearly doubled over the last five years via strategic developments and acquisitions in top-rated leisure markets, exemplified by the award-winning Embassy Suites St. Augustine Beach Resort. Key's most recent acquisition, The Perry Hotel & Marina Key West, gives it a strategic footprint in the highest RevPAR market in the country.

Please see keyint.com  for more information on the company and its portfolio.