A company tied to major hospitality firm Choice Hotels paid $9.5 million for a three-property site in Miami’s Brickell area, The Real Deal has learned.
CS Brickell picked up three small apartment buildings at 145, 155 and 165 Southwest 12th Street in a transaction recorded on Tuesday, according to Miami-Dade County records. No financing was recorded. CS shares a mailing address with Rockville, Md.-based Choice Hotels, according to state corporate records.
Brickell Park LLC sold the properties to CS. The Coconut Grove-based company is managed by George Befeler. It paid $2.5 million for the buildings in October 2006.
Choice Hotels is a publicly traded hospitality holding company. It franchises more than 6,300 hotels totaling more than 500,000 rooms in at least 35 countries, according to its website. The company’s brands include Cambria Suites, Comfort Inn and Sleep Inn.
The buying company’s name could signal the eventual development of a Cambria Suites hotel on the site.