BETHESDA, MD—Locally-based Host Hotels & Resorts had a big day, announcing three major transactions: it has acquired a fee simple interest in a Miami hotel for $57.5 million; its European JV has acquired a 90% stake in a hotel in Berlin for $102.3 million; it has sold a Tampa, Fla.-based property for $199 million.

There were, of course, varying reasons behind these transactions, which the REIT outlined.

The acquisition of the 242-room fee-simple b2 miami downtown hotel is a core play for the company given its location. Host notes that city plans to increase the density in selected areas of its downtown, including the hotel's site, which could lead to future redevelopment.

Host has entered into a management agreement with Destination Hotels & Resorts to reposition and relaunch the hotel, which is located on Biscayne Blvd., under a new independent flag later this year.

The company's joint venture in Europe, in which Host holds a 33.4% interest, acquired a 90% ownership interest in the entity that owns the 394-room fee-simple Grand Hotel Esplanade in Berlin. The hotel was acquired for $102.3 million. The property is subject to approximately $61.5 million of non-recourse debt with a margin of 219 basis points over Euribor. This property as well will be rebranded.

Host's goal in this acquisition is to add diversification to its European portfolio and establish a foothold in Germany. The hotel is a short walk from the city's high-end retail street.

Host sold the 719-room Tampa Marriott Waterside Hotel & Marina for $199 million with the straightforward goal of reducing its assets in non-target markets. Host developed the Tampa property in 1999.