WPH Properties LLC Acquires Miami Beach Hotel For $43.8M

WPH Properties LLC, represented by Jean Simonian, has acquired a hotel located at 1050 Washington Ave in Miami Beach. The property was sold by Ladder Capital for a total of $43,800,000. The transaction took place on February 24, 2021.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $43,800,000
• Address: 1050 Washington Ave, Miami Beach
• Buyer: WPH Properties LLC - Jean Simonian
• Seller: Ladder Capital
• Brokers: Max Comess, Rudy Reudelhuber & Alexandra Lalos - Hodges Ward Elliott

Max Comess, Rudy Reudelhuber, and Alexandra Lalos from Hodges Ward Elliott represented the buyer, WPH Properties LLC, in this transaction. They played a crucial role in facilitating the deal between the buyer and the seller, Ladder Capital. With a total of 181 keys, the hotel has a price per key of $241,989.