Related Ross has expanded its South Florida hospitality holdings with the acquisition of The Ben, a 208-room waterfront hotel in downtown West Palm Beach. The property, located at 251 N. Narcissus Ave., sits along the Intracoastal Waterway and overlooks Palm Harbor Marina, offering direct access to the city’s urban core. Newmark arranged a $172.5 million acquisition loan on behalf of Related Ross to support the purchase.
The Ben was sold by Wheelock Street Capital, which originally acquired the hotel in 2021 for $106.4 million. The latest transaction underscores continued investor interest in newer, well-located hospitality assets in downtown settings. CBRE facilitated the sale, with a team led by Robert J. Webster, Ron Danko, and Timothy Southard.
Opened in February 2020, The Ben is a Marriott-branded hotel positioned within walking distance of CityPlace and the broader downtown district. The hotel is integrated into the Banyan Square mixed-use project, linking it to a larger urban redevelopment context in West Palm Beach. Its waterfront orientation and proximity to key downtown amenities enhance its positioning within the local hospitality market.
The property includes a full-service restaurant and 7,800 square feet of event space, supporting both leisure and group business. Additional amenities include a rooftop ballroom and a rooftop pool, designed to capitalize on its marina and Intracoastal views while catering to social and corporate events.
Beyond the acquisition of The Ben, Related Ross is active elsewhere in West Palm Beach. The company recently closed a $157 million construction loan for Shorecrest, a 98-unit waterfront condominium project in the city. This loan supports the development of additional residential product in a waterfront setting, complementing the firm’s growing hotel presence.
Related Ross is also in negotiations with the county government regarding a potential second hotel adjacent to the Palm Beach County Convention Center. If realized, that project would further extend the company’s hospitality footprint in the market and could add capacity to support convention and meeting demand in the area.
Taken together, the acquisition financing for The Ben, the construction loan for Shorecrest, and the ongoing convention center hotel discussions illustrate a multi-asset expansion strategy by Related Ross in West Palm Beach, centered on waterfront and downtown-adjacent locations.
