Host Hotels paid $610 million for 1 Hotel South Beach, marking a new per-room record for Miami-Dade hotel sales at $1.42 million a key. Barry Sternlicht’s Starwood Capital Group and LeFrak sold the luxury beachfront hotel at 2341 Collins Avenue, according to a press release. Starwood affiliate SH Hotels & Resorts will continue to operate and manage the 429-room hotel. Hodges Ward Elliott brokered the deal. The property was previously under contract to billionaire Michael […]
source https://therealdeal.com/miami/2019/02/20/host-hotels-buys-sternlichts-1-hotel-south-beach-for-610m-setting-new-record/
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