Paul Singer Of Elliott Investment Management Acquires Hotel In Coconut Grove For $69.4M

The asset involved in this transaction is the Mayfair House Hotel & Garden, a 180-room hotel located at 3000 Florida Avenue in Coconut Grove, Miami, FL. The sale price for the property was $69,400,000, and it was financed through a loan of $79 million, suggesting potential for renovation or additional deal components. The price per key (PPK) stands at $385,556.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $69,400,000
• Buyer: Paul Singer - Elliott Investment Management
• Seller: Bruce Flatt - Brookfield Asset Management
• Lender: Acore Capital
• Number of Keys: 180
• Location: 3000 Florida Avenue, Coconut Grove, Miami, FL
• Price Per Key: $385,556

Paul Singer, representing Elliott Investment Management, acquired the Mayfair House Hotel & Garden from Bruce Flatt of Brookfield Asset Management. This transaction is part of Elliott's strategy to expand its presence in South Florida, following recent acquisitions that include an office tower on Brickell and the Gates Hotel South Beach. Brookfield originally purchased the property for about $40 million in 2019.