Price revealed: Blackstone pays $148M for East Miami hotel in Brickell
Blackstone’s purchase price for the 352-key East Miami hotel in Brickell is revealed as $147.8 million. Funds affiliated with New York-based Blackstone bought the 40-story hotel at 788 Brickell Plaza from funds managed by Honolulu, Hawaii-based Trinity Investments and New York-based Certares, the sellers announced in a news release last week, declining to disclose the price. The sale closed last week and deeds became public on Friday. The deal breaks down to $419,886 per key. East Miami is within the Brickell City Centre mixed-use complex that Miami-based Swire Properties completed in 2016. The complex, which spans about five city blocks, […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Blue Jays’ Mad Max sells under-construction Admirals Cove estate for $23M
Butters targets tech, pharma with plans for low-rise light-industrial in Boca Raton
Opterra’s Holiday Inn hotel-to-resi conversion moves ahead in Boca Raton
Inventory drops for first time since 2023 as sales rebound across coastal Miami, beaches
Brian Tuttle loses Main Street dev site in $60M bankruptcy sale
Wave Group, partners launch short-term-rental friendly Wynwood condos
Ultra-luxury brings heat as Palm Beach home sales surge
Why Earnest Money Matters to Sellers
RE Q&A: Who Pays for Noncompliant Fence?
Fla.’s March, 1Q Housing: Closed, Pending Sales Up
