Among
the noteworthy deals of the past week was an affiliate of Bridgeton acquiring
the Sheraton Miami Airport Hotel in Florida for $67.5 million.
MIAMI — An
affiliate of New York-based Bridgeton, led by Atit Jariwala, is acquiring the
405-room Sheraton Miami Airport Hotel from HHM Hotels for $67.5 million
($166,700 per key), according to multiple reports.
The hotel
was completed in 1976 and expanded in 2000.
The buyer
obtained a $59.3 million loan from Argentic Real Estate Investment 2,
suggesting ongoing confidence in hotel assets near Miami International Airport.
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To download
our list of deals from the past week in Excel format, click here.
Deals of the
Week is a weekly feature by Hotel Investment Today that publishes in our Friday
newsletter. Click here for previous deal compilations from earlier weeks.