Spanish conglomerate Grup Peralada pays $58M for South Beach hotel
Seller Rockwood Capital renovated the property, converted apartments to hotel rooms
Spanish conglomerate Grup Peralada purchased the Hall South Beach hotel from Rockwood Capital.
Property records reveal Inverama USA Corp., an affiliate of the Barcelona-based company, paid $58.2 million, or $357,000 per room, for the 163-key hotel at 1500 Collins Avenue in Miami Beach. That price may not include furniture, fixtures and equipment.
Grup Peralada is owned by the Suqué-Mateu family and has hotel, casino, wine and other businesses under its umbrella. A spokesperson for the company was not immediately available to comment.
The deal marks the most expensive hotel sale in Miami Beach since 2016, when Hyatt Hotels paid $229 million for the Confidante Hotel in Miami Beach.
Rockwood, with offices in New York and Los Angeles, paid $34.5 million for the historic 123-room Haddon Hall and the adjacent 45-unit Camden Apartments in Miami Beach in 2013, according to data from Real Capital Analytics. The investment firm renovated the 1.4-acre property and re-opened it all as a hotel in 2015.
The Hall building was built in 1940 and was designed by famed architect L. Murray Dixon. The property features a courtyard with an indoor/outdoor restaurant, beer garden, library, bar and swimming pool. The 1994 movie “Ace Ventura: Pet Detective” was filmed at the Camden Apartments.
Rockwood also recently sold a Courtyard by Marriott hotel and retail space in Boynton Beach for $19.6 million. Last year, a partnership between Rockwood and Thor Equities listed a large development site in Wynwood for $45 million.