JLL arranges sale of Alden Hotel Miami Beach
MIAMI, Oct. 16, 2019 – JLL Hotels & Hospitality announced that the firm has advised on the sale of the Alden Hotel Miami Beach, on behalf of SMS Lodging owned and managed by Arnoldsson family, and R^2 Companies. Hawkins Way Capital purchased the 71-key hotel for $21.3 million.
Managing Director Gregory Rumpel, Executive Vice President Andrew Dickey and Vice President Maciej Polek led the JLL team on the transaction.
The Alden Hotel Miami Beach is located at 225 Indian Creek in the heart of Mid-Miami Beach, three blocks from the beach and within walking distance to some of Miami’s top entertainment venues. SMS Lodging acquired the condo-hotel through the acquisition of bulk units and individual units and ultimately converted the building to a hotel. The hotel features a beautiful historic façade, large outdoor patio and a swimming pool with a sundeck.
JLL Hotels & Hospitality has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $63.2 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 5,420 advisory, valuation and asset management assignments. 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 (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com