Newmark Advises on Sale of Iconic W Hotel South Beach
Newmark announces the $400+ million sale of the 20-story oceanfront W Hotel South Beach in Miami, Florida. The property was sold by Tricap to Reuben Brothers, marking the largest hotel transaction in Miami this year and the newest hotel property to sell since 2021. The 3.85-acre property, located at 2201 Collins Avenue, features luxury restaurants, a full-service spa, and over 200 individually-owned condominiums. The hotel, which opened in 2009, includes amenities such as The Grove, Mr. Chow, and WET Bar restaurants, with ocean views and proximity to luxury retail options.
Newmark annuncia la vendita di oltre 400 milioni di dollari del W Hotel South Beach, un edificio di 20 piani affacciato sull'oceano a Miami, Florida. La proprietà è stata venduta da Tricap a Reuben Brothers, segnando la transazione alberghiera più grande a Miami quest'anno e la nuova proprietà alberghiera venduta dal 2021. La proprietà di 3,85 acri, situata al 2201 Collins Avenue, presenta ristoranti di lusso, una spa a servizio completo e oltre 200 condomini di proprietà individuale. L'hotel, aperto nel 2009, include servizi come i ristoranti The Grove, Mr. Chow e WET Bar, con vista sull'oceano e vicinanza a opzioni di vendita al dettaglio di lusso.
Newmark anuncia la venta de más de 400 millones de dólares del W Hotel South Beach, un edificio frente al mar de 20 pisos en Miami, Florida. La propiedad fue vendida por Tricap a Reuben Brothers, marcando la transacción hotelera más grande en Miami este año y la nueva propiedad hotelera que se vende desde 2021. La propiedad de 3.85 acres, ubicada en 2201 Collins Avenue, cuenta con restaurantes de lujo, un spa de servicio completo y más de 200 condominios de propiedad individual. El hotel, que se inauguró en 2009, incluye comodidades como los restaurantes The Grove, Mr. Chow y WET Bar, con vistas al océano y cercanía a opciones de venta al por menor de lujo.
뉴마크는 플로리다 마이애미에 위치한 20층 해변 앞 W 호텔 사우스 비치의 4억 달러 이상의 판매를 발표했습니다. 이 부동산은 Tricap이 Reuben Brothers에게 판매됐으며, 이는 올해 마이애미에서 가장 큰 호텔 거래이자 2021년 이후 새롭게 판매된 호텔입니다. 3.85에이커에 해당하는 이 부동산은 2201 콜린스 애비뉴에 위치하며, 고급 식당, 풀 서비스 스파 및 200개 이상의 개별 소유 콘도미니엄을 갖추고 있습니다. 2009년에 개장한 이 호텔은 The Grove, Mr. Chow 및 WET Bar 레스토랑과 같은 다양한 편의 시설을 제공하며, 바다 전망과 고급 소매 옵션과의 근접성을 자랑합니다.
Newmark annonce la vente de plus de 400 millions de dollars de l'hôtel en front de mer W Hotel South Beach, un bâtiment de 20 étages à Miami, en Floride. La propriété a été vendue par Tricap à Reuben Brothers, marquant la plus grande transaction hôtelière à Miami cette année et la nouvelle propriété hôtelière à être vendue depuis 2021. La propriété de 3,85 acres, située au 2201 Collins Avenue, comprend des restaurants de luxe, un spa complet et plus de 200 condominiums de propriétaires individuels. L'hôtel, ouvert en 2009, propose des commodités telles que les restaurants The Grove, Mr. Chow et WET Bar, avec vue sur l'océan et proximité avec des options de vente au détail haut de gamme.
Newmark kündigt den Verkauf von über 400 Millionen Dollar für das 20-stöckige Ozeanhotel W Hotel South Beach in Miami, Florida, an. Die Immobilie wurde von Tricap an Reuben Brothers verkauft und stellt die größte Hoteltransaktion in Miami in diesem Jahr dar sowie die neueste Hotelimmobilie, die seit 2021 verkauft wurde. Die 3,85 Hektar große Immobilie an der 2201 Collins Avenue bietet Luxusrestaurants, einen Full-Service-Spa und über 200 individuell geführte Eigentumswohnungen. Das Hotel, das 2009 eröffnet wurde, umfasst Annehmlichkeiten wie die Restaurants The Grove, Mr. Chow und WET Bar, mit Meerblick und Nähe zu Luxus-Einzelhandelsmöglichkeiten.
- Largest hotel transaction in Miami market for 2024
- Sale value exceeds $400 million
- Premium location with oceanfront positioning and luxury amenities
- None.
Insights
The
The acquisition by Reuben Brothers, known for their strategic luxury property investments, suggests potential for value enhancement through operational improvements and possible renovations. The property's location at 2201 Collins Avenue positions it perfectly to capture premium rates from high-net-worth travelers, while the additional revenue streams from restaurants and spa services provide diversified income potential.
This transaction demonstrates continued investor confidence in Miami's luxury hospitality sector, particularly for trophy assets in prime locations. The W Hotel South Beach's successful positioning since its 2009 delivery, featuring upscale dining venues like Mr. Chow and comprehensive amenities, has established it as a benchmark property in the market. The
The sale's significance as the largest Miami hotel transaction of the year and the first major sale of a newer property since 2021 indicates a potential thaw in the luxury hospitality investment market, which could catalyze additional high-profile transactions.
Sale Marks Largest Miami Hotel Transaction This Year
"I am confident that the Reuben Brothers family will take the W to the next level of greatness, and look forward to the success they will achieve and the impact they will make on the world-class luxury
The sale is the largest hotel transaction in the
"The W Hotel South Beach is a world-class, trophy asset and a once-in-a-lifetime opportunity," said Doug Harmon, Co-Head of
Tricap purchased the 3.85-acre site at 2201 Collins Avenue, formerly home of a Holiday Inn, which was demolished in 2006. The W Hotel, which delivered in 2009, features multiple luxury restaurants, including The Grove, Mr. Chow and WET Bar, as well as a full-service spa, spacious balconies with ocean views and much more. The tower, which also includes more than 200 individually-owned condominiums, sits immediately adjacent to the iconic
About Tricap
For over three decades, real estate development and investment firm Tricap has been exceeding projected returns for their co-investment partners across a variety of asset classes, groundbreaking and market-changing projects. With the execution of prudent investment decisions against the backdrop of a creative business plan and capital structure implementation, Tricap seeks to create superior investment returns by identifying early-stage market opportunities and unique transactions.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
1 Eastdil Secured also advised the seller.
2 According to Real Capital Analytics data.
View original content to download multimedia:https://www.prnewswire.com/news-releases/newmark-advises-on-sale-of-iconic-w-hotel-south-beach-302296891.html
SOURCE Newmark
FAQ
How much was the W Hotel South Beach sold for in 2024?
Who bought the W Hotel South Beach in Miami?
What is significant about the W Hotel South Beach sale (NMRK)?