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.
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