Latest news: Angler's trades; Chapter 11 for Boca deal; Mrs. Marriott passes

Miami Beach Angler's trades. French hotelier Philippe Le Guennec has acquired from KHP Capital Partners for $43.5 million ($330,000 per key) the 132-room Kimpton Angler’s Hotel in Miami Beach. Interaudi Bank provided a $23.5 million acquisition loan. The buyer plans to manage and renovate the 101,741-square-foot asset, according to broker One Sotheby International Realty. The property underwent a nearly 70,000-square-foot expansion in 2018. Le Guennec owns the Hotel Saint-Louis portfolio brand, which includes 10 boutique hotels in Paris.

Mandarin Boca to Chapter 11. Via Mizner Owner II LLC filed for Chapter 11 protection on December 23 for the long-delayed Mandarin Oriental hotel and residences in Boca Raton, Florida, in the U.S. Bankruptcy Court for the Southern District of Florida. The filing stemmed from the debtor’s “inability to repay secured lenders,” including IG Romspen US Master Mortgage LP and Via Mizner Funding LP. The firms are owed $130 million and $80 million, respectively. A meeting of creditors was scheduled by the court to be held January 29, 2026. Via Mizner reportedly will seek to reorganize the venture and continue operating to “protect the high market valuation of the property,” the filing said. The project would likely be valued at about $450 million upon completion. The Mandarin Oriental property, located along Federal Highway north of Camino Real, was approved as a 12-story project in 2015, with an estimated completion date of 2019.

Mrs. Marriott dies. Marriott International announced the passing of Donna Rae Garff Marriott, wife for 70 years of J.W. “Bill” Marriott, Jr., chairman emeritus of Marriott International. Born June 10, 1935, in Evanston, Illinois, Mrs. Marriott grew up in Salt Lake City, Utah, where she developed a love for music and dance and attended the University of Utah. In 1955, she married Bill Marriott, beginning a life centered on family, faith, and service – a life that would touch countless others through her warmth and generosity. Donna Marriott is survived by her husband, Bill; children Debbie and her husband, Ron; John and his wife, Muriel; David and his wife, Carrie; daughters-in-law Juliana Marriott and Angela Marriott.  She is also survived by 15 grandchildren and 36 great-grandchildren.

Sapporo hotels trade. Asia-based alternative investment firm PAG and global investment firm KKR have signed definitive agreements to acquire 100% of the shares of Sapporo Real Estate Co., Ltd. from Sapporo Holdings. The acquisition will close in stages over three years, with the acquisition of the first tranche, representing a 51% stake, expected to close on June 1, 2026. Sapporo Real Estate owns, operates, and develops a diverse portfolio of commercial, office, hotel, and residential assets primarily located in Ebisu and Sapporo, Japan. Core properties include Yebisu Garden Place, which opened in 1994, and Sapporo Factory, which opened in 1993. PAG and KKR will pursue the sustainable enhancement of the real estate and corporate value over the medium-to-long term.