A seven-story, 93-room hotel on the northern end of Miami Beach was sold for $29.25 million, according to a published report.
The Days Inn & Suites, which sits on a 15,000-square-foot lot, was purchased by 7450 Ocean Terrace LLC, an affiliate of Miami-based Claro Development.
Hotels repositioned by Claro Development include Faena Hotel & Residences at the Saxony Hotel and the Thompson Miami Beach, the South Florida Business Journal reported.
The Days Inn & Suites, encompassing 50,369 square feet and includes a pool and a bar, was built in 1940.
The property, across the street from the beach, was last sold for $4.05 million in 1997. [South Florida Business Journal] — William J. Gorta