Self-Contained Amenities and Neighborhood Key in The Conrad Brickell Hotel Sale

The Brickell Arch – photo credit Rusty Diaz Photography

Though the pace of commercial real estate transactions in South Florida has slowed down a bit, Miami continues to rack up big sales with the recent purchase of The Conrad Brickell Hotel for $72 million by Mast Capital and Angelo, Gordon and Company.  The 203-room hotel will be managed by HEI Hotels & Resorts, it’s first property in Miami.  At a time when the number of hotel rooms has outpaced demand, this purchase shows that experienced investors believe in the long term viability of Miami as an investment.  Both Mast Capital and Angelo, Gordon, and Company like to purchase value-add properties and it will be interesting to see if they hold onto it or sell it once the planned renovation is completed.