Miami, FL
Pebb Capital & LeaseFlorida Sell Hampton by Hilton in Miami Beach, Florida for $43.90 Million | Real Estate Weekly
Pebb Capital – a diversified, multi-strategy actual property and personal fairness funding agency – in a partnership with LeaseFlorida, as we speak introduced the sale of Hampton by Hilton at The Continental in Miami Seaside, Florida for $43.90 million. This deal is a file for the Hampton flag, marking the second-highest worth per key within the model’s portfolio. The five-story, 100-key property, which is traditionally designated, was rehabilitated in 2016 by the three way partnership for $25 million.
Situated at 4000 Collins Ave., the property is only one block from the ocean, permitting friends prime entry to the Miami Seaside expertise, with hospitality and leisure simply steps away. Bookings remained strong from Fall 2021 to Spring 2022, with occupancy persistently close to 100%.
“We have now witnessed the hospitality {industry}’s evolution within the final 24 months, demonstrating that buyers are drawn to vacation spot experiences and prime markets which might be present process main transformation, like Miami Seaside,” mentioned Todd Rosenberg, managing principal and co-founder of Pebb Capital. “The file worth level per key for this product is a testomony to our imaginative and prescient to ship a re-imagined historic lodge and capitalize on the momentum and long-term progress of its location. We look ahead to persevering with our involvement available in the market.” Pebb Capital and LeaseFlorida launched into the restoration of the previous Continental Lodge and its historic facade, which is post-World Struggle II MiMo (Miami Trendy) designed by Abraham Herbert Mathes within the Forties. The unique marble-clad reception desk and pool had been additionally restored, with trendy repositioning of its interiors to align with the Hampton by Hilton model. In its storied previous, the property originated as a lodge after which served as a condominium within the early Nineteen Nineties, named The Continental on Collins Ave Condominium, till it was transformed again to its historic use.
Visitor rooms and customary space areas boast the comforts and facilities synonymous with Hampton by Hilton, full with a pool, health middle and enterprise middle. Each Hampton by Hilton visitor enjoys the model’s signature free, sizzling breakfast with wholesome choices; On the Run™ breakfast baggage; and free WiFi in each room. Hampton continues to steer the pack by way of visitor expertise, with visitor happiness being the primary precedence, backed by the 100% Hampton Assure™.
Hampton by Hilton at The Continental is a part of Hilton Honors®, the award-winning guest-loyalty program for Hilton’s 18 distinct lodge manufacturers. Hilton Honors members who ebook straight by means of most popular Hilton channels have entry to instantaneous advantages, together with a versatile fee slider that enables members to decide on practically any mixture of Factors and cash to ebook a keep, an unique member low cost that may’t be discovered wherever else and free commonplace WiFi. Members additionally take pleasure in fashionable digital instruments accessible completely by means of the industry-leading Hilton Honors cell app, the place Hilton Honors members can check-in, select their room and entry their room utilizing a Digital Key.
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