MIAMI-The 12-story, 400-room Seville Hotel has been purchased byhotelier Ian Schrager and Mariot for $57.5 million. Mariot hasplans to redevelop the hotel into a boutique brand called Edition.The hotel was previously owned by 2901 Beach Ventures, an equalpartnership between Fortune International Management and LionstoneGroup.

|

Lionstone was represented by Phillip M Hudson III of Arnstein& Lehr LLP, who negotiated with FirstBank Puerto Ricoconcerning the underlying loan and eventually led to its sale.For the full story, go to Florida real Estate Journal.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.