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Service Properties Trust Acquires Nautilus Hotel In Miami Beach For $165.4M

Property Image
SOLD
$165,400,000

Florida

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Hotel
Sold 06/01/2023
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Property Image
SOLD

Service Properties Trust Acquires Nautilus Hotel In Miami Beach For $165.4M

1825 Collins Avenue, Miami Beach, FL, 33139

See Similar Deals
Hotel
Sold 06/01/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

Service Properties Trust, represented by Todd Hargreaves, has acquired the Nautilus Hotel in Miami Beach for $165.4 million. The oceanfront hotel features 250 rooms and will undergo a $25 million repositioning and rebranding effort. After the transformation, it will reopen in early 2025 as the Nautilus Sonesta Miami Beach.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $165,400,000
  • Address: 1825 Collins Avenue - Nautilus Hotel, Miami Beach
  • Market: Miami Beach

Todd Hargreaves, representing Service Properties Trust, played a key role in the acquisition of the Nautilus Hotel. The purchase marks an important addition to the Trust's portfolio, expanding its presence in the Miami Beach market. With the planned repositioning and rebranding, Service Properties Trust aims to enhance the hotel's offerings and provide guests with an elevated experience.

Players

TH
Service Properties Trust
Todd Hargreaves
2 deals$330.8M volume
BUYER

Details

SOLD
IMAGE: Todd Hargreaves DATE: 06/01/2023 ADDRESS: 1825 Collins Avenue - Nautilus Hotel MARKET: Miami Beach ASSET TYPE: Hotel BUYER: Service Properties Trust - Todd Hargreaves SALE PRICE: $165,400,000 KEYS: 250 ~ PPK: $661,600 NOTE: Service Properties Trust has purchased the Nautilus Hotel in Miami Beach for $165.4 million. The 250-room oceanfront hotel will undergo a $25 million repositioning and rebranding as the Nautilus Sonesta Miami Beach, reopening in early 2025.

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