Cipriani Residences Miami
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Dublin, OHChateau Petit Douy
Miami, FLMarriott TownePlace Suites
Doral, FLSadigo Court Hotel
Miami Beach, FL
Marriott TownePlace Suites
Doral, FL
Property Characteristics
- 94 room hotel
- Located in Doral, FL
Acquisition
Investment Opportunity
- Property purchased from a special servicer at auction, which required an immediate deposit and deterred competition
- Very high in-place yield
- The Doral submarket includes several demand drivers and is booming, with an expected increase in population of 15% over the next 5 years
Execution
- Strongly accretive financing creates substantial cash-on-cash returns
- Operational improvements in process