search

The Real Deal Logo

Trending

Bushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsSpec developer sells waterfront Bay Harbor Islands mansion for record $22MSpec developer sells waterfront Bay Harbor Islands mansion for record $22MLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
South Florida

Urgo and Carlyle buy two Miami Beach hotels

Hotel owner and operator Urgo Hotels has teamed up with the Carlyle Group to purchase two landmark Miami Beach hotels — the Blue Moon and Winterhaven — for $26.7 million, according to the South Florida Business Journal.

Both hotel properties will be renovated over the next six months and their food and beverage operations repositioned as signature restaurants, the partners announced today.

Sign Up for the undefined Newsletter

“The Winterhaven and Blue Moon are irreplaceable properties and locations that we sourced off-market,” said Kevin Urgo, principal of Urgo.

He also noted that this was his company’s first collaboration with Carlyle; “Joint ventures are an important growth vehicle for our company,” he said.

Urgo now has stakes in four properties in South Florida. It purchased the Ocean Point Hotel in Pompano Beach for $8.55 million in January. [SFBJ]

Tags
Miami BeachReal Estate CompaniesReal Estate Groups