Majestic Sells Wyndham Garden Inn Miami Beach For $25.5 Million
Tuesday April 16th, 2013 - 9:50AM W
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
MIAMI—The Wyndham Garden Inn in Miami Beach was sold by Majestic Organization, LLC, to the Witkoff Group for $25.5 million.
The 133-room property is located at 1050 Washington Ave and includes five buildings, occupying nearly an entire block. CBRE Hotels brokered the transaction on behalf of the buyer.
Christian Charre, SVP for CBRE Hotels in Miami, noted, "The demand for hotels in South Beach continues to increase with more institutional investors seeking opportunities in the market. This was a great opportunity to acquire a unique piece of real estate in a prime location."
Tags: • Hospitality •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.