The Real Deal Miami

HFZ Capital seeks to “re-imagine” Shore Club

January 10, 2014 03:45PM

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Ziel Feldman and Shore Club at 1901 Collins Avenue

The Shore Club’s new owner, New York-based development and investment firm HFZ Capital Group, plans to extensively ramp up the luxury offerings of the iconic hotel.

“We have an extraordinary, once-in-a-lifetime opportunity to re-imagine and reposition a world-class property in a market that has seen continued demand for luxury properties,” HFZ founder Ziel Feldman said in a statement.

The $175.3 million sale of the 309-room building at 1901 Collins Avenue was the priciest one for a South Florida hotel last year, The Real Deal reported last week.

Philips International, which had a majority stake, will continue to have a stake in the new ownership entity. [Miami Herald]Mark Maurer

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