Finance & DevelopmentJLL's Hotels & Hospitality Group Arranges Sale of SLS Brickell

JLL’s Hotels & Hospitality Group Arranges Sale of SLS Brickell

MIAMI—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.

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.

Managing Director Andrew Dickey and Senior Vice President Maciej Polek led the JLL team on the transaction. This team also led the financing and sale of the SLS South Beach in 2015. 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. “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 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 a rooftop pool and spa.

RELATED ARTICLES

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...

Hunter Hotel Advisors Brokers Sale of Residence Inn Detroit Novi

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 107-key Residence Inn Detroit Novi. Spark GHC purchased the property from an institutional...

PMZ Realty Capital Arranges Loan for Hampton Inn Marysville

PMZ Realty Capital LLC announced that it has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan...

LivAway Suites Breaks Ground on New Property in Tucson, Arizona

SALT LAKE CITY, Utah—LivAway Suites announced the groundbreaking of its newest property in Tucson, Arizona, which marks its fourth in the state over the...