Lots of boats everywhere and great staff working all over the place, willing and helpful. In addition, local rate of growth ordinances which limit development in the area create significant barriers to entry for new hotel supply. Longstock II, LLC owns and manages Stock Island Marina Village and the Perry Hotel. Oceans Edge is Sunstone's first acquisition in the highly desirable Key West market which boasts the highest RevPAR of any market in the United States. We sell new and pre-owned Boats and Outboards from Evinrude, Honda Marine, Boston Whaler, Mercury and Yamaha with excellent financing and pricing options. Suntex Marinas A superior experience on the water. Offers state-of-the-art floating docks and slips. Aquamarina Oceanside. For further information, please visit Sunstone's website at www.sunstonehotels.com. And I don’t want to leave out the staff they are amazing, friendly and helpful! Data as provided in supplemental financial information reported on the Company's Current Report on Form 8-K, furnished February 21, 2017 and May 2, 2017. . . Answer 1 of 6: We are looking at vacation rentals in Key West. John Arabia, President and Chief Executive Officer stated, "The acquisition of Oceans Edge Hotel & Marina demonstrates a continuation of our strategy to recycle capital into higher quality, long-term relevant real estate while maintaining an industry leading balance sheet with ample investment capacity. 3 restaurants, hammock park, two dog parks one for small dogs and the other for larger dogs. Status: Open. T-heads are available. Sunstone expects the stabilized yield on the purchase price of the Hotel to be between 8.0% and 9.0%. As part of the transaction, Sunstone also acquired a combined 52 wet and dry boat slips and amenities in the attached marina which offers direct deep channel access to one of the most sought after fishing destinations in the country. We are a pump out-approved facility with water and electrical hook-ups. Oceans Edge Acquisition: Oceans Edge Hotel & Marina ("Oceans Edge" or the "Hotel") is a newly constructed, purpose-built oceanfront hotel and marina complex that opened in January 2017. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. 125 Reviews. The luxury resort and marina, which opened in January 2017, is expected to provide meaningful growth in the near term as it reaches stabilization, and over the long term due to the supply restrictions in the Key West market.". This could be the best kept secret boating marina in the keys. The sale price represents a 8.9x multiple on the hotel's Adjusted EBITDA over the trailing four quarters of $3.1 million and a 9.5% capitalization rate on the hotel's net operating income over the trailing four-quarter period. The Hotel will operate as an independent property and be managed by Singh Hospitality which has expertise in the local hotel market. Completes Disposition of the 199-Room Marriott Park City. You won’t find a more state-of-the-art marina facility offering both dry stack and wet slips. York Harbor Marine offers service and parts, and proudly serves the areas of Wells, North Berwick, Rollinsford, Eliot and Kittery. Owning, managing and investing in an extensive network of the best saltwater and freshwater marinas in the United States, Suntex Marinas brings more than a century of combined experience to its industry leadership, always delivering a superior experience on the water for our guests. Very nice pool where we had a great lunch. By land we’re only four miles from the Key West International Airport and ten minutes away from the historic district and Duval Street in Downtown Key West. The 2021 tournament is limited to the first 75 boats that register, and offers $50,000 in guaranteed cash prizes, so sign up early to secure your spot! ALISO VIEJO, Calif., July 26, 2017 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) announced that it has acquired the fee-simple interest in the 175-room Oceans Edge Hotel & Marina in Key West, Florida for $175 million. EBITDA Multiple calculated as Contractual Gross Sale Price divided by Hotel Adjusted EBITDA. By Anish Chand The Wakaya Island has been mentioned in a high-profile court-case in the United States involving a sex cult group known as NXIVM. Sunset Marina. COVID-19 Alert View COVID-19 Page. Hilton Worldwide Holdings has agreed to buy two of Key West’s largest and most upscale resorts: the Casa Marina and the Reach Resort. 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