Sheraton Suites Fort Lauderdale West Sold to Artifact Group and Rok Acquisitions; $10 Million Renovation Planned

JLL’s Hotels & Hospitality Group arranged the sale and secured acquisition financing for the Sheraton Suites Fort Lauderdale West, a 265-room all-suite hotel located on University Drive in Plantation, Florida. Everwood Hospitality Partners was the seller. The property was acquired by Canada-based Artifact Group in partnership with Miami-based Rok Acquisitions. JLL secured a floating-rate, three-year loan for the buyers through CIM Group.

The Sheraton Suites Fort Lauderdale West is located within Plantation Walk, a mixed-use development featuring more than 1,100 luxury apartments, 200,000 square feet of Class A office space, 205,000 square feet of medical office space, and 220,000 square feet of retail, restaurant, and entertainment venues. The hotel is positioned as a central lodging option in West Broward County, offering visibility and walkability within the development.

The property features 265 all-suite accommodations averaging 438 square feet, approximately 20 percent larger than competing hotels in the market. Each suite includes a separate living room with a sleeper sofa, double vanities, a work desk, a mini-refrigerator, and a microwave. Half of the rooms have undergone tub-to-shower conversions.

Amenities include 7,900 square feet of meeting space across seven event rooms, including a 2,300-square-foot ballroom with capacity for up to 600 attendees. Additional amenities include a rooftop pool and hot tub, a fitness center, a three-meal restaurant, a full-service bar featuring Starbucks coffee, a Marriott Bonvoy Elite Club Lounge, and 304 parking spaces in an adjacent garage.

The new ownership plans to invest $10 million in a brand-mandated property improvement plan to refresh guestrooms and corridors. The previous owner completed approximately $12 million in renovations, including a comprehensive facade restoration in 2024 and modernization of common areas and meeting spaces.

Plantation is a high-growth suburban market in Broward County, with nearly 100,000 residents and an average household income approaching $100,000. The hotel is accessible via Interstate 595 and the Florida Turnpike. Fort Lauderdale-Hollywood International Airport, which served 35.2 million passengers in 2024, is within a 20-minute drive, as is Port Everglades, which welcomed a record 4.1 million cruise passengers in 2024.

The JLL Hotels & Hospitality team included Senior Managing Director Andrew Dickey, Senior Directors Maciej Polek and Wyatt Krapf, Senior Associate Jesse Pohl, Associate Henry Winchester, and Analyst Mason Greif.