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| Haddon Hall hotel and adjoining Campton Apartments, Miami Beach, FL |
MIAMI, FL – HFF announced today that it has closed the sale
of Haddon Hall, a 123-room historic, art-deco hotel, and the adjacent Campton
Apartments, a 45-unit multi-housing community centrally located in Miami
Beach, Florida.
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| Manuel de Zarraga |
HFF
marketed the property on behalf of the sellers, Haddon Hall Associates, Ltd.
and Campton Associates, Ltd. The
purchaser of the property was an affiliate of Rockwood Capital. The hotel was offered unencumbered by any
brand or management agreement. Terms
were not disclosed.
Haddon Hall and the Campton Apartments are situated on an
approximately 1.4-acre site with frontage along both Collins Avenue and
Washington Avenue, one block from Ocean Drive and Miami Beach and less than two
blocks from the Lincoln Road retail and entertainment corridor.
Haddon Hall,
originally constructed in 1940, was designed by world-renowned architect L.
Murray Dixon and is a contributing building to the Miami Beach
Architectural District, which is part of the U.S. National Register of Historic
Places.
The property features expansive indoor and outdoor public
areas and offers one of the largest non-oceanfront swimming pools in Miami
Beach. The offering also included the
right to expand the property by approximately 50,000 square feet of additional
space.
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| Max Comess |
The
HFF investment banking team representing the seller was led by executive
managing director Manuel de Zarraga, senior managing director Daniel
C. Peek, director Max Comess and senior hospitality analyst Cyrus
Vazifdar.
“The sale of Haddon Hall and the Campton Apartments
demonstrates the continued strength and desirability of Miami as one of the
world’s most highly sought hotel investment markets,” commented Peek, who is
based in South Florida and serves as head of HFF’s hospitality practice
group. “This is a great example of an
institutional buyer entering the market to significantly rehabilitate a
property that has an incredible location and the potential to create
significant value.”
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| Former site of Seville Beach Resort |
Comess, a director in HFF’s Miami office, adds, “The trade
of Haddon Hall further solidifies our thesis that both investors and visitors
to our city are moving increasingly inland and northward, closer to our
world-class retail, cultural and entertainment destinations.
" We are excited for the buyer and for the future of this iconic property, which will surely become one of the most dynamic hotels in South Beach.”
" We are excited for the buyer and for the future of this iconic property, which will surely become one of the most dynamic hotels in South Beach.”
HFF’s hotel group previously arranged the sale of the Seville
Beach Resort on Collins Avenue at 29th Street in Miami Beach, which is in its
final stages of redevelopment and will soon reopen as the Miami Beach
Edition.
The group subsequently
arranged the sale of the Cheeca Lodge and Spa in Islamorada, the Westin
Imagine in Orlando and the Residence Inn in Coconut Grove, all on
behalf of separate sellers.
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| Cheeka Lodge and Spa, Islamorada, FL |
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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