1. Ritz Carlton Key Biscayne
Address: 455 Grand Bay Drive
Sold: $325M in 2015 = $1,069,536 /key
Largest transaction of 2015.
Buyer: Carey Watermark (REIT)
Note: purchase was for majority stake. Purchase involved debt assumption and a recapitalization deal with a 5.2% cap rate with the developer, Gencom Group. After Gencom recapitalized, Carey Watermark controlled 60% of the asset.
2. St. Regis Bal Harbour
Address: 9703 Collins Avenue
Sold: $213M in 2014 =$1,024,038 /key
Buyer: Al Rayyan Tourism Development Company
3. SLS South Beach
Address: 1701 Collins Avenue
Sold: $125M in 2015 = $880,282/key
Buyer: Golden Peaks Capital
4. Miami Beach Edition
Address: 2901 Collins Avenue
Sold: 230M in 2015 = $782,313 /key
5. James Royal Palm
Address: 1545 Collins Avenue
Sold: $278M in 2015 = $698,492 /key
Buyer: Chesapeake Lodging Trust (REIT)
Contact me for off market hotel deals.
I also work with buyer, so contact me if you are looking to sell a hotel asset.