Sheraton Suites sold for $36 mn

The Sheraton Suites Key West in Florida has been sold to to Ocean Properties for $35.85 million. The hotel will become a Sheraton franchise and will be managed by an affiliate of Ocean Properties. The 180 suite hotel is Key West’s only all-suite hotel and will be completely renovated by Ocean Properties.

Located across from Smathers Beach and just one-mile from Key West International Airport, the hotel is a brief shuttle away from historic Duval Street in Old Downtown Key West. Amenities include a lagoon swimming pool and fitness center, as well as access to all watersports, diving, snorkeling and fishing with a nearby golf course.