An unidentified Chinese buyer recently purchased the 527-room San Juan Marriott Resort & Stellaris Casino for 4 million, or more than 0,000 per room, according to market sources. Located near the Port of San Juan, the Puerto Rico Convention Center and San Juan International Airport, the
hotel occupies more than four beachfront aces. It has an average occupancy rate of 87.6 percent over the last five years.
Managing Director Gregory Rumpel and Senior Vice President Andrew Dickey led the team for JLL— professional real estate and investment services firm Jones Lang LaSalle Inc.—which handled the transaction for the sellers, Rockwood Capital and Interlink Group. Dickey said, “The San Juan lodging market has performed well over the past few years, despite short-term impacts in 2016 in the Caribbean region and Puerto Rico’s debt pressures. This property garnered interest from both international and domestic investors due to its beachfront location, outstanding financial performance and affiliation with a globally recognized brand.”
