King Street Capital Management, Westdale Properties, And Cedar Capital Partners Acquire Miami Beach Hotel For $120M

The property involved in this transaction is a hotel located at 1801 Collins Ave in Miami Beach. The sale took place on 02/04/2020 for a total price of $120,000,000. The hotel has 218 keys, and the price per key was $550,458.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $120,000,000
• Address: 1801 Collins Ave
• Market: Miami Beach

The buyer in this transaction was a partnership between King Street Capital Management represented by David Walch, Westdale Properties represented by Mitchell Cohen, and Cedar Capital Partners represented by Ben Leahy. The seller was W.P. Carey and Russell Galbut of Crescent Heights. The deal was facilitated by Christian Charre, Paul Weimer, and Jennifer Jin of CBRE.