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The Real Deal Miami

Spanish conglomerate Grup Peralada pays $58M for South Beach hotel

Seller Rockwood Capital renovated the property, converted apartments to hotel rooms
By Katherine Kallergis | January 24, 2018 12:30PM

The Hall South Beach hotel, formerly known as Haddon Hall (Credit: Booking.com)

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.