Pan Capital is a corporation of Swedish businessmen who have been gobbling up property on Fort Lauderdale Beach the way a thirsty dog laps up water. Hotelier Richard Gray, founder of the Royal Palms guest accommodations, is acting as spokesman for the group. He tells me that the Swedes feel the U.S. economy has bottomed out and property values are at their best in 20 years, thus the purchasing of Fort Lauderdale beach property at an unprecedented pace.
Gray has confirmed the purchase of the Schubert Resort and Orton Terrace by Pan Capital. Both deals were consummated at the end of June. The Schubert, owned by real estate giant Tony Dee, was purchased for $1.7 million and Orton Terrace, owned by Roger Handevidt, was purchased for $ 1 million. Both purchases were cash deals.
Over the last year or so, Pan Capital has purchased the Flamingo, the Dunes, Blue Dolphin, the Robbindale, the Royal Palms, Orton Terrace and Schubert Resorts. And that’ s ju
st for starters. The group has also purchased a large number of straight properties.
According to Gray, all of the gay accommodations purchased will remain catering to the gay traveler except the Blue Dolphin.
Gray has also told The Scoop that North Fort Lauderdale Beach is being developed into an area that will be called North Beach Village, a quaint area of cafés and boutique motels and hotels.
Orton Terrace will soon close and major renovations will get underway. The plan is to merge the Orton Terrace with the old Royal Palms into a hotel named the Hotel Lush Royale, an upscale hotel catering to the sophisticated gay traveler.
Organizations Get Pride Money
Seven Broward County organizations have received grants from Pride South Florida, the promoters of Pride Fest held in March in Oakland Park. A total of $7,000 was split evenly ($1,000 each) to the following organizations: Names Project AIDS Memorial Project, Church of the Holy Spirit, Red Hispana Florida, Gilda’s Club South Florida, Lambda’s Men’s Brotherhood, South Florida Wind Ensemble and LP Productions.
Joel Slotnick, secretary/treasurer, said attendance and revenue were lower than expected at this year’s two-day event. Pride South Florida has also changed its name to Pride Fest 2012.
Short Takes
• Congrats to our friends at SCORE on South Beach who just celebrated its 13th anniversary.
• South Beach
promoter Edison Farrow throwing a “House’ party at a real private home on Sunday, July 24th beginning at 4PM. There is no cover and the home is located at 221 N.E. 17 Street in Miami. Enjoy the pool, booze and great music.
• The 4th annual Summerfest being held on South Beach from July 22- July 24. Parties at Score and Lords Hotel.
Thanks for picking us up this week and remember: To have a friend, you must first be a friend.
If you have a “scoop” for Brad Casey, please e-mail your information to BradC@jumponmarkslist.com