Investments include $93.5 million preferred equity stake in 12-asset Southern portfolio and $89 million preferred equity stake in 21-asset Transcoastal portfolio.
"Optimum's multi-year process of expansion and renovation has revitalized the historic Celino South Beach site, transformed its global brand and helped to spearhead the relaunch of Miami's Ocean Drive," said Rodolfo Misitano, CEO at Optimum Asset Management in a written statement.