Joseph McDonnell Of Cirrus Real Estate Partners Acquires Miami Hotel For $95 Million

The asset involved in this transaction is a hotel located at 340 Biscayne Boulevard in Miami. The sale price for the property is $95,000,000. The site is currently utilized as a Holiday Inn and is fully entitled for an 82-story mixed-use redevelopment project.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $95,000,000
• Buyer: Joseph McDonnell - Cirrus Real Estate Partners
• Seller: Gilberto Bomeny
• Broker: Gabriel Flores - ONE Commercial
• Date of Transaction: 01/28/2026
• Market: Miami

The buyer, Cirrus Real Estate Partners, was awarded the property after securing a redo bankruptcy auction with a credit bid of $95 million, which was $18 million higher than a previous voided bid. The sale is pending court approval scheduled for February 11.