MIAMI BEACH-Hersha Hospitality Trust in Philadelphia has signed a contract to purchase the Courtyard Miami Beach Oceanfront hotel for $95 million. The 263-room, Art Deco hotel, located at 3925 Collins Ave., is currently owned by Beta Epsilon/Cadillac LLC of Boca Raton.
The hotel, which includes a Starbucks and a Carrabba's Italian Grill on-site, is the only Marriott-franchised inn in Miami Beach. The sales price breaks down to about $361,217 per room. The deal is scheduled to close in Q3. For the full story, go to South Florida Business Journal .
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