Mast Capital Acquires Hotel From Holborn LC For $72M In Miami Sale

The property involved in the transaction is the Conrad Miami, a 203-key luxury hotel located at 1335 Brickell Ave, Miami, FL, 33131. The hotel was sold for $72,000,000.00 in a deal handled by Natalie Castillo of CBRE. The asset is now rebranded as Conrad Brickell and is part of the 675,141-square-foot Brickell Arch complex. It features seven suites, a rooftop pool, tennis courts, and a full-service spa.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $72,000,000.00
• Market: Miami
• Buyer: Mast Capital
• Seller's Rep: Natalie Castillo (CBRE)

Mast Capital, a Miami-based real estate investment company, acquired the Conrad Miami from Holborn LC. The buyer plans to invest $8 million in renovations and has engaged HEI Hotels & Resorts to implement cost-cutting measures. The hotel’s proximity to office space and major transportation hubs makes it an attractive investment. The seller was represented in the transaction by Christian Charre, Paul Weimer, and Natalie Castillo of CBRE.