MIAMI BEACH-A joint venture between Bethesda-based Urgo Hotels and Washington, DC-based The Carlyle Group has purchased two hotels in Miami Beach. The joint venture has acquired Blue Moon Hotel, a 75-room hotel, and Winterhaven Hotel, a 71-room hotel, for a total amount of $26.7 million.
The joint venture has plans to renovate both South Beach hotels and remodel them as four-star hotels. These deals will be the 11th and 12th acquisition for Urgo in the Florida market in 18 months. For the full story, go to Washington Business Journal .
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