Los Angeles-based sbe launched its own international real estate development arm, Dakota Development, the hospitality company announced on Wednesday.
Dakota Development will focus on planning, design, development, and construction management services to developers, lenders and other financial institutions, according to a press release. The company will also form a single-family home division for acquisitions, development and repositioning.
This week, sbe and CIM Group sold the SLS South Beach Hotel for $125 million to GoldenPeak Capital Real Estate. Sbe will continue to operate the hotel through 2030. The hospitality company also operates the Raleigh Hotel in Miami Beach, which Tommy Hilfiger purchased in 2013. — Katherine Kallergis