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.
2550 South Bayshore Drive, Coconut Grove (JLL)
Suntex Marina Investors bought the long-term lease for Monty’s Raw Bar and Prime Marina Miami in Coconut Grove for $14.7 million, records reveal.
Dallas-based Suntex Ventures purchased the 70-year lease for the marina, also called Bayshore Landing, at 2550 South Bayshore Drive earlier this month. Aligned Bayshore Raw Bar LLC, tied to Jose Hevia’s Prime Marina Group, sold the property.
Records show Aligned Bayshore Raw Bar assigned the lease to Coconut Grove F&B LLC, a Delaware corporation signed by Bryan C. Redmond, the president of Suntex Marinas. Hevia, principal of Prime Marina Group, signed on behalf of Aligned Bayshore Raw Bar.
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.
Superhero Bridger Walker visits Miami for adventure in ‘big boat’
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MIAMI – The seven-year-old boy from Wyoming whose training in Brazilian Jiu-Jitsu might have prepared him to bravely shield his little sister from an attack by a German Shepherd-mix is in Miami this week.
Ralph Navarro, of Florida Yachts International, heard about the brave Bridger Walker from his daughter. His courage was so moving that he decided to extend him and his family an all-expenses-paid invitation.
“At first, I didn’t know what a yacht was, but then my grandpa told me it was a big boat,” Bridger said.