Billionaire Paul Singer’s hedge fund, LHCG buy hotel from Brookfield for $69M
Billionaire Paul Singer’s hedge fund has joined forces with a company led by former Starwood Capital Group executive Keith Evans to acquire the Mayfair House Hotel & Garden in Miami’s Coconut Grove neighborhood for $69.4 million from Brookfield Asset Management, records show. An entity tied to West Palm Beach-based Elliott Investment Management and London-based Lifestyle Hospitality Capital Group purchased the property at 3000 Florida Avenue, assuming Brookfield’s $41 million mortgage from Acore Capital and increasing it to $79 million. The debt amount suggests the deal’s total value may exceed the recorded sale price once personal property and other assets are […]This article originally appeared on The Real Deal. Click here to read the full story.
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