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South Florida

South Beach hotel sells for $15.5M

Hotel Nash, formerly known as Lords South Beach
Hotel Nash, formerly known as Lords South Beach

The Hotel Nash in South Beach has traded for about $15.5 million, The Real Deal has learned.

A company managed by Miami Beach-based Cambean Hospitality sold the boutique hotel at 1120 Collins Avenue on Monday, according to Miami-Dade County records. The county recorded the transaction the following day. Cambean-managed Hotel Nash paid $12.5 million for the 54-room hotel in February 2008.

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CRP Nash, managed by Washington, D.C.-based the Carlyle Group, is the buyer. No financing was recorded.

An Art Deco hotel built in 1935, Hotel Nash previously operated as Lords South Beach, which catered to gay travelers. As Hotel Nash, it has a broader platform, according to Jones Lang LaSalle, which represented the seller.  — Eric Kalis

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Collins AvenueSouth Beach