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Swire Properties Sells EAST, Miami Hotel for $174M
Swire Properties, Inc., has completed the $174M sale of the 352-key EAST, Miami hotel to a joint venture among funds managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments, LLC, and funds managed by Certares Real Estate Management LLC.
“This deal marks one of the largest hotel transactions in South Florida since the start of the COVID-19 pandemic, and it’s the first out of our inaugural commingled fund,” said Sean Hehir, managing partner, president and CEO of Trinity.
Swire Properties intends to reinvest the capital into future developments that will contribute to further enhancing the city. Swire Hotels will continue to manage EAST, Miami, which serves as the anchor hotel for Swire Properties’ $1.05 billion, 5.4 million-square-foot mixed-used Brickell City Centre.
EAST, Miami offers 352 guest rooms, eight suites and 89 residence suites. The property’s Climate Ribbon uses natural wind currents to cool without requiring the addition of cooling units.
- ◦Sale/Acquisition
