The Real Deal Miami

Marriott-branded hotel in Miami gets $26M

SpringHill Suites acquired by Atlanta firm for $14M more than 2008 price
June 30, 2014 11:15AM

6700 Northwest Seventh Street

6700 Northwest Seventh Street

The SpringHill Suites by Marriott in Miami changed hands for nearly $26 million, The Real Deal has learned.

Blue Lagoon Hospitality sold the 6700 Northwest Seventh Street hotel in a transaction recorded on Friday, according to Miami-Dade County records. The company is tied to Greenbelt, Md.-based Baywood Hotels. It paid $12.1 million for the 150-room hotel in June 2008.

NF II Miami South of Atlanta is the buyer. The company obtained an $18.5 million loan from GE Capital Bank for the acquisition.

The hotel was originally constructed in 2002. — Eric Kalis