SMS Lodging lists Miami Beach hotel after selling another for $21M
SMS recently sold the 71-key Alden hotel for $21.3M
SMS Lodging is looking to sell a boutique hotel in South Beach, following the $21.3 million sale of another hotel farther north in Miami Beach.
The firm, led by Jesper Arnoldsson, tapped CBRE to list The Julia, a 29-room hotel in the South-of-Fifth neighborhood, at 336 Collins Avenue. CBRE’s Paul Weimer, who is listing the property with Natalie Castillo and Joshua Beene, said it’s expected to sell for about $300,000 a key, which would come out to nearly $9 million.
SMS recently sold the 71-key Alden hotel at 2925 Indian Creek Drive in Mid-Miami Beach for $21.3 million. CBRE and JLL brokered the deal. Hawkins Way Capital purchased the former condo-hotel building and is planning to open Found Hotel Miami Beach next summer with Found Places.
The Julia, built in 1932, went through a $3.2 million renovation in 2017, according to marketing materials for the property. The two-story, 9,237-square-foot building has units averaging 275 square feet, a lobby and a covered patio.
Property records show that Arnoldsson’s 336 Collins LLC paid $3.7 million for the building in 2015.
In addition to a hotel in the Bahamas and hotels in Miami and Key West, SMS owns the 32-key Hotel St. Augustine at 347 Washington Avenue, which is across the street from The Julia, and next to a mostly vacant lot that SMS also owns.