Suntex officially takes over Las Olas Marina ibinews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibinews.com Daily Mail and Mail on Sunday newspapers.
Dallas company backed by billionaire buys two marinas, offers $75,000 finder s fee for more dallasnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dallasnews.com Daily Mail and Mail on Sunday newspapers.
Hersha Hospitality Trust sold a Marriott-branded hotel in Coconut Grove for $31 million,
The Real Deal has learned.
The Philadelphia-based hotel real estate investment trust sold the three-building, 140-unit Residence Inn by Marriott to AB Asset Management, led by Getzy Fellig and Sam Zalmanov. The Miami Beach-based buyer plans to upgrade the property at 2835 Tigertail Avenue in Miami and convert it to multifamily, Fellig and Zalmanov said.
AB Asset Management financed the deal with a $27.5 million bridge loan from Harbor Group International, arranged by FM Capital’s Joe Back.
The hotel sold for about $221,000 per unit.
Avison Young’s John K. Crotty, Michael T. Fay, David Duckworth, Brian C. de la Fé, Emily Brais and Berkley Bloodworth represented the seller.
How much Suntex paid for Bayshore Landing marina in Miami Coconut Grove - South Florida Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Suntex Acquires Miami Marina
Suntex Marina Investors
announced in statement that it acquired Prime Marina Miami. The facility is in Coconut Grove, Fla., and serves downtown Miami. Suntex said it is calling the marina Bayshore Landing, its previous name.
The property includes 111 slips for boats to 130 feet, 30,000 square feet of retail space and 15,000 square feet of restaurant space.
“Suntex is actively growing and seeking acquisitions that align with our core objectives to be the premier marina operator in the U.S.,” said David Filler, head of Florida-based Suntex Investments. “Biscayne Bay and the surrounding neighborhoods like Coconut Grove represent one of the greatest boating communities in the world.”