The Real Deal Miami

Aloft and Element hotels in Doral marketed for sale

Aloft Miami opened in 2013; Extended-stay Element hotel to open in March
January 29, 2015 02:15PM

Aloft and Element Hotels

Aloft Miami at 3265 Northwest 107th Avenue

Aloft Miami and the nearly completed Element hotel in Doral are being marketed for sale, CBRE Hotels announced Thursday.

The two hotels, located on nearly five acres at 3265 to 3285 Northwest 107th Avenue, are in an area once known for industrial warehouses but that is now undergoing an urban transformation.

The 145-room boutique hotel Aloft opened in 2013, and the 139-room extended-stay hotel Element by Westin is scheduled for completion in March.

“The site provides ample excess land and approvals for further development, such as a proposed seven-story office and retail building, and 422-space parking garage,” Christian Charre, senior vice president of CBRE Hotels, said in a press release.

Both hotels will be sold unencumbered by management, CBRE’s Melinda Sherwood told The Real Deal.

Since Aloft opened in 2013, it’s had occupancy rates above 92 percent. Average room rates for the last quarter were about $120.  —  Kristina Puga