MIAMI-An affiliate of Coconut Grove-based TerraGroup has purchased the Howard Johnson Plaza hotel onMiami Beach for $65 million.

The 230-room hotel at 8701 Collins Ave. was sold byDezer Properties. Terra Group will own and managethe hotel.

Terra Group COO and President David Martinstates, “This is a great investment and addition to our growingportfolio. We look forward to the redevelopment of the surroundingMiami Beach, Surfside and Bal Harbour neighborhoods.” See story inthe South Florida Business Journal.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

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

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.