Blackstone Miami Hotel Acquisition at East Brickell

Blackstone Miami Hotel Acquisition Marks Major Move in Brickell

Blackstone’s Miami hotel acquisition of East Brickell reinforces its strong presence in South Florida’s luxury hospitality market. The investment giant acquired the 352-room East hotel from Trinity Real Estate Investments and Certares Real Estate Management. The sellers had purchased the property for $174 million four years ago.

The East hotel is located at 788 Brickell Plaza inside the Brickell City Centre development, a project completed by Swire Properties in 2016. The 39-story tower includes modern guest rooms, event venues, and a popular rooftop bar that has become a nightlife destination.

Why Brickell Matters to Investors

Although the sale price was not disclosed, Blackstone sees Brickell as one of Miami’s most promising neighborhoods. “The Brickell neighborhood is experiencing rapid transformation with strong employment and population growth, as well as exciting leisure attractions and entertainment events, creating a compelling backdrop for the property,” said Scott Trebilco, senior managing director at Blackstone Real Estate.

For more on the transformation of Miami’s financial hub, read our feature on Brickell’s rise as a global destination.

Blackstone Expands Its South Florida Portfolio

This acquisition follows Blackstone’s 2023 purchase of the W Fort Lauderdale Hotel, a beachfront property, and a $300 million refinancing deal for the Ritz-Carlton Key Biscayne earlier this year. These investments highlight the firm’s strategy to strengthen its hospitality footprint across South Florida.

Trinity’s Continued Investment in Hospitality

The East sale is also significant for Trinity Real Estate Investments. It represents the first fully realized asset in Trinity GP Fund I, which raised $520 million in 2021. Despite the sale, Trinity remains deeply invested in the region. In 2023, the firm acquired the Diplomat Beach Resort in Hollywood for $835 million, further cementing its role in Florida’s hospitality sector.

What’s Next for Brickell City Centre

New development may soon rise near the East hotel. Swire Properties recently sold an adjacent parcel to Kerzner International, the company behind Dubai’s world-famous Atlantis resort. The $45 million deal signals potential for another luxury hotel to join the Brickell City Centre landscape.

For more updates on South Florida hospitality, visit our coverage of the Ritz-Carlton Residences in Miami Beach.

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