The Real Deal Miami

New York firm sells Hialeah Ramada Inn for $13.5M

Garrison Investment Group completes deal with California-based buyer

June 30, 2014 01:30PM

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1950 West 49th Street

1950 West 49th Street

A company tied to New York-based Garrison Investment Group sold a Hialeah Ramada Inn for $13.5 million.

Miami-Dade County recorded Garrison Hialeah’s sale of the 254-room hotel at 1950 West 49th Street on Friday, according to county records. The company acquired the property through foreclosure in February 2010. The previous owner paid about $12.3 million for the hotel in July 2007.

Corona del Mar, Calif.-based UCH1 LLC is the buyer. It did not obtain financing for the acquisition.

The hotel was originally constructed in 1970.

Another Garrison company paid $14 million for the DoubleTree by Hilton Deerfield Beach-Boca Raton earlier this month. — Eric Kalis

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