The Real Deal Miami

Hotel Indigo in Miami sells to California investors

Property last sold for $11.5M in May 2007

June 24, 2015 05:30PM
By Katherine Kallergis

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Hotel Indigo Dadeland

Hotel Indigo Dadeland

The Carlyle Group and an investment fund have sold Hotel Indigo, a 120-room hotel in Miami’s Dadeland area for $18.63 million. 

Los Angeles-based Integrated Capital acquired the 1.5-acre property at 7600 North Kendall Drive. CRP Cardel Dadeland Hotel, an affiliate of the Carlyle Group and Rodblu Investment Fund 1, was the seller. The LLC paid $11.5 million for the site in May 2007, according to Miami-Dade County property records.

HFF‘s Dan Peek, Max Comess, Joseph Won and Cecily Nazario represented the seller, according to a press release.

Hotel Indigo, a six-story, 58,849-square-foot building, was constructed in 1975 and is located west of the Palmetto Expressway near Dadeland Mall and Baptist Hospital. InterContinental Hotels Group manages the property, which features an outdoor swimming pool with cabanas, a restaurant, business center, gym, and meeting space.

“Dadeland — like other Miami nodes such as Doral, Aventura and Coconut Grove — is experiencing a renaissance today among both visitors and locals,” Comess said in a statement. “The Hotel Indigo was attractive to investors because it provided a perfect balance of a hotel that is very successful today with strong future growth potential as the destination continues to flourish.”