Atit Jariwala Of Bridgeton Holdings Acquires Sheraton Miami Airport Hotel From Naveen Kakarla For $67.5M

The Sheraton Miami Airport Hotel, located at 3900 Northwest 21st Street in Miami, encompasses a total of 4.8 acres and features 405 rooms within a 330,942-square-foot structure. The property was sold for $67,500,000, translating to a price per key of $166,667 and a price per square foot of $204.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $67,500,000
• Buyer: Atit Jariwala - Bridgeton Holdings
• Seller: Naveen Kakarla - HHM Hotels
• Lender: Argentic Real Estate Investment
• Keys: 405
• PPK: $166,667
• SF: 330,942
• PPSF: $204

Atit Jariwala, representing Bridgeton Holdings, acquired the property from Naveen Kakarla of HHM Hotels. The transaction was supported by a $59.25 million mortgage from Argentic Real Estate Investment, indicating confidence in the hotel asset market near Miami International Airport.