The Real Deal Miami

Terra Group buys Howard Johnson hotel for $65M

December 17, 2013 04:30PM

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David Martin and 8701 Collins Avenue

An affiliate of Miami-based, David Martin-led developer Terra Group picked up the Howard Johnson Plaza Dezerland Beach and Spa in Miami Beach for $65 million.

Dezer Properties, led by developer Gil Dezer, owned the 225-room hotel at 8701 Collins Avenue at 87th Street for roughly 15 years. David Shear and Lori Hartglass of Chicago-based law firm Arnstein & Lehr represented the seller.

“We have a longstanding relationship with the Dezer family and are pleased we were able to assist their company in the sale of this historic vacation resort,” Shear told Daily Business Review.

Earlier this month, Terra Group broke ground on 18-story condo tower GLASS, planned for 120 Ocean Drive in Miami Beach. [Daily Business Review]Mark Maurer

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