MIAMI-The 12-story, 400-room Seville Hotel has been purchased by hotelier Ian Schrager and Mariot for $57.5 million. Mariot has plans to redevelop the hotel into a boutique brand called Edition. The hotel was previously owned by 2901 Beach Ventures, an equal partnership between Fortune International Management and Lionstone Group.
Lionstone was represented by Phillip M Hudson III of Arnstein & Lehr LLP, who negotiated with FirstBank Puerto Rico concerning the underlying loan and eventually led to its sale. For the full story, go to Florida real Estate Journal.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
