British firm pays $49M for Pullman Miami Airport hotel

Laurus Corp. sold the 281-room property for $173K per key

Miami /
Jan.January 14, 2019 10:34 AM

Richard Livingstone and the Pullman Miami Airport hotel (Credit: Getty Images)

London + Regional Properties paid $48.65 million for the Pullman Miami Airport hotel.

Los Angeles-based Laurus Corp. sold the 281-room hotel at 5800 Blue Lagoon Drive, property records show. The buyer, a London-based real estate and investment firm, purchased the property without ties to a management agreement but plans to keep the Pullman brand for a year, according to HFF. The hotel is one of two Pullmans in the U.S. The other is in San Francisco.

Laurus completed a multimillion-dollar renovation of the hotel in 2016 that converted it from a Sofitel to a Pullman. It was built in 1986 on a 10-acre site in the Blue Lagoon office park. The hotel features 18,500 square feet of meeting and event space, a pool, tennis courts, a fitness center, business center and two food and beverage concepts.

HFF’s Alexandra Lalos, Tony Malk and Daniel Peek represented the seller, according to a release.

The hotel last sold for $22.3 million in 2012, property records show.

The buyer, L+R, owns more than 17,000 hotel rooms worldwide, including the London Hilton on Park Lane, Trafalgar Hilton, Nobu Ibiza and Marriott Grand Cayman, the release said. The company, founded by billionaires Richard and Ian Livingstone in 1987, has a portfolio exceeding £9 billion.

AccorHotels, a French hospitality company, owns the Pullman brand.


Related Articles

arrow_forward_ios
Joseph Chetrit and a rendering of the Collins Park project (Getty, Kobi Karp)
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
Setai Miami Beach and owners Joe, Ralph and Avi Nakash. (Setai)
Setai Miami Beach bans unwelcome hotel guest from using amenities: lawsuit
Setai Miami Beach bans unwelcome hotel guest from using amenities: lawsuit
Russell Galbut and a rendering of the project (Studio MCG Architecture)
Russell Galbut wants to turn South Beach hotel and adjacent building into offices and restaurants
Russell Galbut wants to turn South Beach hotel and adjacent building into offices and restaurants
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Ronny Finvarb with a rendering of 1790 Alton Road (GEK Architecture)
Miami Beach to prohibit hotels in Sunset Harbour? Zoning overhaul could derail Ronny Finvarb’s project
Miami Beach to prohibit hotels in Sunset Harbour? Zoning overhaul could derail Ronny Finvarb’s project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...