MIAMI-The 12-story, 400-room Seville Hotel has been purchased by hotelier Ian Schrager and Mariot for $57.5 million. Mariot has plans to redevelop the hotel into a boutique brand called Edition. The hotel was previously owned by 2901 Beach Ventures, an equal partnership between Fortune International Management and Lionstone Group.
Lionstone was represented by Phillip M Hudson III of Arnstein & Lehr LLP, who negotiated with FirstBank Puerto Rico concerning the underlying loan and eventually led to its sale. For the full story, go to Florida real Estate Journal.
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