West Palm Beach, FL (February 26, 2026) — Related Ross and Wheelock Street Capital today announced the successful closing of The Ben (251 N. Narcissus Avenue), a 208-room waterfront hotel located on the waterfront in downtown West Palm Beach. Related Ross acquired the property from Wheelock Street Capital through CBRE, marking another significant investment in the continued growth and vitality of the West Palm Beach community.
Opened in 2020, The Ben is one of the city’s most prominent hospitality destinations, offering a resort-style experience directly overlooking the Palm Harbor Marina and Intracoastal Waterway. Its setting plays a critical role in welcoming visitors to West Palm Beach and serves as a northern gateway to the city’s dining, cultural, and recreational offerings. Situated steps from Clematis Street and within walking distance of CityPlace and the surrounding downtown district, The Ben contributes meaningfully to the visitor experience while reinforcing West Palm Beach’s emergence as a premier destination for leisure, business, and events.
“This acquisition reflects our long-term commitment to West Palm Beach and our belief in hospitality as a cornerstone of a thriving, livable city,” said Kenneth Himmel, President of Related Ross. “The Ben sits in a special position along the waterfront, and we see it as an important asset not only for visitors, but for the broader community and regional economy.”
Wheelock Street Capital originally acquired The Ben in 2021.
“We identified West Palm Beach early as a high-growth market with strong fundamentals and long-term appeal,” said Tim Hodes, Managing Director and Head of Hotel Acquisitions for Wheelock Street Capital. “The Ben has played a meaningful role in that evolution, and we’re pleased to transition the property to Related Ross, whose investment and leadership have had an outsized impact on the city’s growth.”
With The Ben, Related Ross continues its strategy of thoughtfully integrating hospitality into the mixed-use ecosystem of downtown West Palm Beach, supporting the city’s evolving urban fabric and economic momentum, in a transaction arranged by CBRE with Robert J. Webster, Ron Danko, Jr., and Timothy Southard representing the seller.
“The Ben’s operating performance has been unwavering due to its positioning across from Palm Beach and the robust expansion in office, education, retail, and residential in West Palm Beach,” said Robert J. Webster of CBRE. “Related Ross has been the catalyst for tremendous growth in the area, and adding a prime asset like The Ben with planned upgrades will further elevate the lodging and food and beverage experience.”
About Related Ross
Led by visionary developer Stephen Ross, Related Ross is a fully integrated real estate company shaping South Florida’s next generation of growth. With more than $10B planned in investment across Palm Beach County, the firm is a market leader in attracting global companies and talent to South Florida. As a catalyst for regional growth, Related Ross is advancing developments through public-private partnerships that strengthen business ecosystems, expand attainable housing offerings, support world-class healthcare, enhance higher education and K-12 opportunities, and cultivate innovation hubs to accelerate South Florida’s dynamic business and cultural growth. The firm also curates entertainment programming and thought-leadership initiatives that position the region as a national center for ideas and experiences. Its portfolio spans mixed-use, Class AA+ lifestyle office, luxury residential, affordable housing, city centers, hotels and hospitality, and public realm, designed to anchor long-term economic vitality in the communities they build. Through the Related Ross Foundation, the company is focused on equitable growth that expands access to education, employment, and cultural vitality. For more information, visit www.relatedross.com.
About Wheelock Street Capital
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes. Wheelock has raised approximately $6 billion in capital commitments from well-known institutional investors and focuses on real estate investment opportunities throughout the United States, in both public and private markets. Wheelock is currently raising its eighth fund in its value-added series, Wheelock Street Real Estate Fund VIII in addition to its perpetual life core-plus fund, Wheelock Street Long Term Value Fund. Wheelock's investment team benefits from extensive experience from top-tier institutional investment firms and highly regarded real estate operating companies and has produced a 15-year track record of demonstrated and consistent outperformance over industry benchmarks. For more information visit wheelockst.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
MEDIA CONTACTSMaura DavesVP of Communications, Related Rossmdaves@relatedross.com
Ashton McLeodSVP, Orchestraashton.mcleod@orchestraco.com; relatedross@berlinrosen.com
