Kolter Hospitality And BH Group Acquire Crystal Beach Suites Miami Hotel For $24M

Kolter Hospitality and BH Group have acquired the Crystal Beach Suites Miami Oceanfront Hotel in Miami Beach for $24 million. The 84-room hotel, located at 6985 Collins Avenue, was previously operated as a timeshare condominium but has been restructured by the previous owner. The property is situated in the bustling market of Miami Beach.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $24,000,000
• Address: 6985 Collins Avenue
• Market: Miami Beach

The buyer, Kolter Hospitality, was represented by Bobby Julien, while Liat Toledano and Isaac Toledano represented BH Group. The seller is Hillel A. Meyers. The deal included 84 keys, with a price per key of $285,714.

Note: The acquisition of the Crystal Beach Suites Miami Oceanfront Hotel marks a significant investment for Kolter Hospitality and BH Group in the Miami Beach market.