Activate Hospitality Acquires Miami Hotel From AD1 Global In $16.8M Deal

The hotel located at 80 Southwest 8th Street, Suite 2100 in Miami has been sold for a price of $16,800,000. This property, spanning 130,000 square feet, was purchased by Activate Hospitality, represented by Sagar Desai. The transaction took place on 12/21/2023. The seller, AD1 Global, was represented by Kyle Stevenson from Berkadia. Wyatt Krapf, also from Berkadia, acted as the mortgage broker, while the lender involved in the deal was Alex Horn from BridgeInvest. The price per square foot for this hotel was $129.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $16,800,000
• Square Footage: 130,000
• Buyer: Activate Hospitality - Sagar Desai
• Seller: AD1 Global
• Seller's Rep: Kyle Stevenson - Berkadia
• Mortgage Broker: Wyatt Krapf - Berkadia
• Lender: Alex Horn - BridgeInvest

Noteworthy individuals and companies involved in this transaction include Sagar Desai representing Activate Hospitality as the buyer. On the other side of the deal, Kyle Stevenson from Berkadia acted as the representative for the seller, AD1 Global. Wyatt Krapf from Berkadia served as the mortgage broker, and Alex Horn from BridgeInvest provided the lending for this sale.