Among
the noteworthy deals of the past week was David and Simon Reuben’s acquisition
of the W South Beach from RFR Holdings and Tricap.
MIAMI BEACH,
Florida — David and Simon Reuben have acquired the W South Beach hotel for more
than $400 million. The pair, which has been in advance talks for the 348-key property, acquired the Miami-area
hotel from New York City-based RFR Holdings and Tricap.
The sellers
had sued each other over a scuttled buyout deal as a $157 million loan was
about to mature. New York City-based Newmark facilitated the transaction.
This marks
one of the Reubens’ largest deals in South Florida as the British billionaires
own a 25% stake in the JW Marriott Miami Turnberry Resort & Spa and the
Chesterfield in Palm Beach.
To download
our list of deals from the past week in Excel format, click here.