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| SLS Brickell, a 124-room luxury and lifestyle hotel located in Miami’s Brickell submarket |
MIAMI, FL – JLL’s Hotels & Hospitality group announced on behalf of Constellation Hotels Holdings that the firm has arranged the sale of SLS Brickell, a 124-room luxury and lifestyle hotel located in Miami’s Brickell submarket for the second time.
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| Michelle Kelban |
The Kastrati Group acquired the hotel for $53.5 million and was represented by Jordan Karp and Disruptive Real Estate. The sale did not include the restaurant space formerly known as Bazaar Mar by Jose Andres, as JLL had sold it in a separate transaction to Black Lion Investment Group in Q1 of 2023.
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| Jordan Karp |
The
seller was also represented by Latham
& Watkins in the disposition, led by Michelle Kelban, Global
Co-Chair of the firm’s Real Estate Practice, and Aaron Friberg counsel
in the firm’s San Diego office.
“This
transaction was a great opportunity to work with the Constellation team again
and to continue our global relationship,” said Dickey.
Andrew Dickey
“This asset was highly sought after with several bidders, which reflects the quality of the asset, its improving location within Brickell, and the long-term view of Miami’s growth.”
The
SLS Brickell was developed by the Related Group, designed by Philippe Starck
and Arquitectonica, opened in 2016 and is located within the SLS Tower, one of
Brickell’s most successful mixed-use projects.
Amenities include nearly 58,000 square feet of
indoor and outdoor event space, an upscale three-meal restaurant, three bars
and lounges, and an expansive rooftop pool and spa.
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| Aaron Friberg |
Our hotel valuation, brokerage, asset
management, and consultancy services have helped more hotel investors, owners,
and operators achieve high returns on their assets than any other real estate
advisor in the world.JLL’s
Hotels & Hospitality Group
For
more news, videos and research resources on JLL Hotels & Hospitality,
please visit the firm’s U.S. media center web page: https://www.us.jll.com/en/industries/hotels-and-hospitality.
Maciej Polek
Contact:
Kristen Murphy
Director,
Public Relations, Americas
JLL
One
Post Office Square, Suite 1100
Boston,
MA 02109
T
+1 617 848 1572
M
+1 617 543 4873
