The sprawling Perry Hotel and Marina on Shrimp Road on Stock Island are under new ownership.
A company called Key International bought the Perry Hotel, which includes Matt’s Stock Island Kitchen and the Salty Oyster outdoor bar and restaurant.
A separate company known as Integra bought the adjacent marina on the property, and on the same day as the marina sale was finalized, the popular Sloppy Joe’s Dockside bar and restaurant closed for business.
“We believe we sold this property to a buyer who understands the uniqueness and quirkiness of Stock Island and will carry on our goal to keep improving the property while embracing the community as it gets improved,” said seller Matthew Strunk of FOD Capital LLC. “I believe we accomplished our goals of embracing Stock Island’s uniqueness and trying not to change it for the worse. In 10 years, we have come a long way from a previous junk yard and a road that did not have the best reputation. My favorite memories of the property will be the many Stock Island community neighbors that visit every day for the dog park, coffee shop, fitness classes, art studios and local businesses in the property’s commercial space.”
In a press release announcing its purchase of the hotel and restaurants, Key International said its purchase is “part of an ambitious expansion of its $2 billion portfolio. ‘The addition of the Perry Hotel speaks to our vision to bring together quality brands and memorable experiences with our excellent customer service,’ says Michael Vassilaros, chief investment officer for Key International.’” The release said the purchase builds on the company’s strategy of “identifying and adding properties with great brand recognition.”
The Perry Hotel, at 7001 Shrimp Road, has 100 rooms with views of the marina, two outdoor pools that overlook the waterfront and two restaurants including the highly-rated Matt’s Stock Island Kitchen & Bar and Salty Oyster Dockside Bar & Grill.
The marina was acquired in a separate venture by Integra Marinas, a subsidiary of Miami-based Integra Investments; the 288-slip marina will be operated independently.
“As a leading owner, developer and operator of marinas in key coastal growth markets along the East Coast, Integra Marinas continues to expand its marina portfolio in 2023, which is catapulted by the Perry Marina acquisition,” said a press release from Integra.
The Marina is situated on nearly 35 acres, minutes from ‘Old Town’ Key West, the release noted, adding it is the largest deepwater marina in the Keys, with 288 wet slips with floating concrete docks. It is capable of berthing superyachts up to 350 feet in length and provides high-speed gas and diesel fueling, a ships store, captain’s lounge, and resort-style pool.
“The Perry Marina’s location within a world-class destination for domestic and international boaters allows for some of the top fishing and nautical experiences of any coastal location, making this an anchor asset for our growing portfolio,” said Victor Ballestas, a principal with Integra Investments. “Our strategic deployment of capital to the Perry Marina and Integra’s newest development, Wrecker’s Cay, Key West’s largest workforce housing project in over 50 years, are a testament to our commitment to the local community.”
