Casa Hotels Group Acquires Hotel On Collins Avenue In Miami Beach For $8.1M

A hotel located at 1506 Collins Avenue in Miami Beach has been sold in a recent transaction. The property, which has a total area of 21,832 square feet, was purchased by Casa Hotels Group for a price of $8,100,000. The sale price per square foot for this transaction was $371. The hotel consists of 30 keys, resulting in a price per key of $270,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $8,100,000
• Date: 01/28/2021
• Address: 1506 Collins Avenue
• Market: Miami Beach
• Buyer: Casa Hotels Group - Jose Aguera
• Seller: Lender West LLC
• Buyer's Representative: Valerio Spinaci - Opera Real Estate Investment
• Seller's Representative: Roca Gonzalez P.A.
• Total Square Footage: 21,832 SF
• Price per Square Foot: $371
• Number of Keys: 30
• Price per Key: $270,000

This transaction involved Casa Hotels Group as the buyer and Lender West LLC as the seller. The buyer was represented by Valerio Spinaci of Opera Real Estate Investment, while the seller was represented by Roca Gonzalez P.A.