HFF Hotel Group closes Urbano on Brickell sale

Miami /
Oct.October 29, 2014 12:45 PM

The HFF Hotel Group said it closed the sale of Hotel Urbano at Brickell, a 65-key boutique hotel located on Brickell Avenue.

The 2500 Brickell Avenue property has frontage on both Brickell and South Miami avenues. Completed in 1961 and redeveloped in 2010, the boutique hotel features art exhibits from up-and-coming Miami artists, three meeting spaces totaling 1,650 square feet, the Bistro Urbano restaurant and bar, and an outdoor pool surrounded by cabanas outfitted with flat-screen televisions.  The hotel was offered with development rights allowing for a 64-room expansion on the site.

HFF marketed the property on behalf of the seller, an affiliate of The Carlyle Group and Rodblu Investment Fund 1.  Baywood Hotels purchased the property free of debt and will assume property management.

The HFF investment sales team representing the seller was led by director Max Comess, senior managing director Daniel C. Peek and associate directors Cyrus Vazifdar and Scott Wadler.

“The opportunity to acquire Hotel Urbano and its valuable urban development rights was aggressively pursued by investors from the U.S., Latin America and Asia,” Comess said.  “The high physical quality of this hotel combined with a flexible expansion opportunity appealed to Baywood, who has emerged as one of the most active hotel developers in Miami today.”– Jennifer White Karp


Related Articles

arrow_forward_ios
Montford Group' Sunju Patel and Opterra Capital Glenn Alba with 2940 Collins Avenue (Montford Group, Getty)
Montford, Opterra JV buys Hilton Garden Inn Miami Beach for $28M
Montford, Opterra JV buys Hilton Garden Inn Miami Beach for $28M
Joseph Chetrit and The Tides South Beach (Getty, The Tides South Beach)
Chetrit’s lender scores victory in South Beach hotel foreclosure
Chetrit’s lender scores victory in South Beach hotel foreclosure
100 Fairway Drive, Deerfield Beach with Ally Visram and Howard Wurzak (Wurzak Hotel Group, Google Maps)
Wurzak buys Deerfield Beach DoubleTree for $27M
Wurzak buys Deerfield Beach DoubleTree for $27M
Allied Partners' Eric Hadar and RH's Gary Friedman with the Savoy hotel (Allied Partners, Getty, Google Maps)
Inside RH’s plans for $100M renovation of Miami Beach hotel
Inside RH’s plans for $100M renovation of Miami Beach hotel
Moto Capital Group's Marcos Lima with 350 Ocean Drive (Loopnet, LinkedIn, Getty)
Toronto firm picks up Ocean Drive hotel for $39M
Toronto firm picks up Ocean Drive hotel for $39M
Red South Beach at 3010 Collins Avenue, Tom Assouline and August “Gussie” Busch (Instagram/gussiebusch, Google Maps, Getty)
Busch family partners with Assouline Capital to buy Red South Beach hotel
Busch family partners with Assouline Capital to buy Red South Beach hotel
Electra America's Joe Lubeck with rendering of Southplace City Center (Electra America)
Electra America JV plans $1B mixed-use redevelopment of Southland Mall
Electra America JV plans $1B mixed-use redevelopment of Southland Mall
Allied Partners founder Eric Hadar and The Savoy Hotel & Beach Club at 425 Ocean Drive (Google Maps, Getty)
Investor seeks $50M for allegedly botched Ocean Drive hotel repairs
Investor seeks $50M for allegedly botched Ocean Drive hotel repairs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...