A company tied to New York-based Garrison Investment Group sold a Hialeah Ramada Inn for $13.5 million.
Miami-Dade County recorded Garrison Hialeah’s sale of the 254-room hotel at 1950 West 49th Street on Friday, according to county records. The company acquired the property through foreclosure in February 2010. The previous owner paid about $12.3 million for the hotel in July 2007.
Corona del Mar, Calif.-based UCH1 LLC is the buyer. It did not obtain financing for the acquisition.
The hotel was originally constructed in 1970.
Another Garrison company paid $14 million for the DoubleTree by Hilton Deerfield Beach-Boca Raton earlier this month. — Eric Kalis