Catalyst Capital Group Acquires Miami Beach Hotel For $39.3M

Located at 350 Ocean Drive in Miami Beach, this hotel property was recently involved in a closed transaction. The sale took place on September 26, 2022, with Catalyst Capital Group, represented by Newton Glassman, acquiring the property from Marcos Lima, who was represented by Moto Capital Group. The hotel, situated in the Miami Beach market, was sold for a total amount of $39,300,000.

The financing for this transaction was provided by Madison Newbond, with Josh Zegen and Neil Luthra serving as lenders. They facilitated a loan amount of $20,000,000 for the purchase of the hotel. Notably, the keys to the property were handed over, and the price per key was $243,902.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $39,300,000
• Address: 350 Ocean Drive, Miami Beach
• Buyer: Catalyst Capital Group - Newton Glassman
• Seller: Marcos Lima - Moto Capital Group
• Lender: Madison Newbond
• Lender Representatives: Josh Zegen & Neil Luthra
• Loan Amount: $20,000,000
• Keys: 82
• Price Per Key: $243,902

This deal brought together notable individuals and companies in the real estate industry. Catalyst Capital Group, represented by Newton Glassman, made the purchase, while Marcos Lima, represented by Moto Capital Group, acted as the seller. Madison Newbond, with Josh Zegen and Neil Luthra as lenders, provided the financing for the transaction. The sale of this hotel property in Miami Beach showcases the ongoing activity in the market and the involvement of key players in the industry.