Monday, November 23, 2015

Holiday Inn Port of Miami sells for $65M to developer of World Trade Center of the Americas

Larry Stockton
MIAMI, FL (Nov. 23, 2015) – The Holiday Inn Port of Miami has sold for $65 million, capping an 18-month-long process with a closing on Friday, Nov. 20.

The property sold to 340 Biscayne Owner, LLC, an entity run by Gilberto Bomeny, the developer of the proposed World Trade Center of the Americas, a mixed-use project expected to be built on the site.

Larry Stockton, Senior Vice President, and Jeff Resnick, Senior Associate, with Colliers International South Florida brokered the transaction between the buyer and the seller, Marina Park Inn, LLC.

“The beauty of this site is that the hotel earns over $5 million in annual net operating income, which gives the developer the flexibility to develop the site when he sees fit since it carries itself as-is,” said Colliers’ Stockton.

Jeff Resnick
The proposed World Trade Center of the Americas is a 77-story mixed-use project which is planned to include 400 condos, 240 hotel rooms, 270,000 square feet of retail and 246,000 square feet of office space, according to the Miami Herald. The site plans have been approved by the City of Miami’s Urban Design Review Board.

The Holiday Inn is located at 340 Biscayne Blvd. in Miami and is 1.1 miles from the Port of Miami.

For a complete copy of the company’s news release, please contact:

Leah Saunders 
Senior Account Executive
B2 Communications
p 727.895.5030 x104 | c 813.924.0367

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