WESTON, FL-A joint venture of London-based Cube Capital and Weston, Florida-based InSite Group has purchased the Continental Oceanfront South Beach Hotel, a 251-room property at Collins Avenue and 18th Street in Miami Beach, for $61 million. The joint venture is preparing to renovate as well as reposition the hotel.
The hotel will retain its current name till the improvement and repositioning gets completed. The hotel will be re-launched in Q4 2012. The joint venture also owns B Ocean Fort Lauderdale. For the full story, go to Florida Real Estate Journal.
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