Henley USA buys another Miami Beach hotel for $20M

50-room Collins Park hotel sold for $400k per room

Miami /
Aug.August 29, 2018 12:30 PM

2216 Park Avenue and Henley’s Ian Rickwood

Henley USA, the U.S. arm of United Kingdom-based private equity firm Henley, just purchased another boutique hotel in Miami Beach.

Encotel LLC, led by Enrique Colmenares, sold the Eurostars Vintro Hotel at 2216 Park Avenue for $20 million in an off-market deal, according to One Sotheby’s International Realty. Susan Gale of One Sotheby’s represented the seller and buyer, whom the brokerage declined to name.

The 50-room hotel includes a restaurant, bar, rooftop lounge and plunge pool. It’s in the Collins Park neighborhood of Miami Beach, near the Miami Beach Convention Center and the Bass Museum of Art.

Henley paid about $400,000 per key for the nearly 26,000-square-foot Art Deco hotel, which was built in 1934, according to property records. It previously traded hands for $3.5 million in 2011.

The hotel joined Hilton’s Curio Collection in 2016, according to a press release. It’s now managed by Eurostars.

Representatives for Eurostars and Henley did not immediately respond to requests for comment.

The deal isn’t the first for Henley in South Florida. Earlier this year, Henley paid $15.4 million for two hotels in Miami and Miami Beach: the Jefferson Hotel at 528 and 534 Southwest Ninth Avenue and the Jazz on South Beach, a hostel at 321 Collins Avenue.

Both of those properties will become part of Henley’s new high-end hostel concept called Life House, according the firm’s website. Henley plans to invest $30 million into the two sites.


Related Articles

arrow_forward_ios
Lil Wayne and 6480 Allison Road in Miami Beach (Getty Images, Become Legendary/Douglas Elliman Realty)
Lil Wayne lists Miami Beach mansion for $30M
Lil Wayne lists Miami Beach mansion for $30M
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
John Howard Kunkel with 1030 Stillwater Drive (LinkedIn, Google Maps)
50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
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
Mario Carbone and the Palm Island house (Getty Images, Google Maps)
Major Food Group’s Mario Carbone buys Miami Beach home
Major Food Group’s Mario Carbone buys Miami Beach home
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
Jade Signature (Google Maps, Getty)
Jade Signature closing tops Miami-Dade’s weekly condo sales
Jade Signature closing tops Miami-Dade’s weekly condo sales
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...