MIAMI—The Wyndham Garden Inn in Miami Beach has a new owner. Majestic Organization LLC sold the hotel to The Witkoff Group for $25.5 million.
Located at 1050 Washington Avenue, the 133-room Wyndham Garden Inn spans five buildings and nearly occupies an entire block. Amenities include on a large pool deck, a restaurant bar, and terrace.
“The demand for hotels in South Beach continues to increase with more institutional investors seeking opportunities in the market,” says Christian Charre, senior vice president for CBRE Hotels in Miami, who represented Witkoff. “This was a great opportunity to acquire a unique piece of real estate in a prime location.“
Four of the South Beach hotel buildings are historical, including the restaurant located in the Coral House, which were built in 1922. The other buildings vary in age and were consolidated into one hotel under the Wyndham franchise.
Paul Weimer and Natalie Castillo worked with Charre to broker the transaction just prior to joining CBRE Hotels in Miami. Their former independent brokerage company was known as The Charre Group.
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