Rockwood Buys Art Deco Haddon Hall

MIAMI—HFF just inked a unique transaction that included a Miami Beach hotel and multifamily property. HFF represented the sellers of Haddon Hall, a 123-room historic, art-deco hotel, and the adjacent Campton Apartments, a 45-unit multifamily asset.

Haddon Hall Associates, Ltd. and Campton Associates, Ltd. sold the Miami Beach assets to an affiliate of Rockwood Capital. The hotel was offered unencumbered by any brand or management agreement.  

HFF executive managing director Manuel de Zarraga, senior managing director Daniel C. Peek, director Max Comess, and senior hospitality analyst Cyrus Vazifdar led the transaction. Terms were not disclosed.

“The sale of Haddon Hall and the Campton Apartments demonstrates the continued strength and desirability of Miami as one of the world's most highly sought hotel investment markets,” says Peek, who is based in South Florida and serves as head of HFF's hospitality practice group.  “This is a great example of an institutional buyer entering the market to significantly rehabilitate a property that has an incredible location and the potential to create significant value.”

Haddon Hall and the Campton Apartments sit on a 1.4-acre site with frontage along both Collins Avenue and Washington Avenue. That's one block from Ocean Drive and Miami Beach and less than two blocks from the Lincoln Road retail and entertainment corridor. 

Originally constructed in 1940, Haddon Hall was designed by world-renowned architect L. Murray Dixon and is a contributing building to the Miami Beach Architectural District, which is part of the U.S. National Register of Historic Places. The hotel has one of the largest non-oceanfront swimming pools in Miami Beach. Rockwood also bought rights to expand the property by about 50,000 square feet.

“The trade of Haddon Hall further solidifies our thesis that both investors and visitors to our city are moving increasingly inland and northward, closer to our world-class retail, cultural and entertainment destinations,” says Comess, a director in HFF's Miami office. “We are excited for the buyer and for the future of this iconic property, which will surely become one of the most dynamic hotels in South Beach.”

HFF's hotel group previously arranged the sale of the Seville Beach Resort on Collins Avenue at 29th Street in Miami Beach, which is in its final stages of redevelopment and will soon reopen as the Miami Beach Edition. The group subsequently arranged the sale of the Cheeca Lodge and Spa in Islamorada, the Westin Imagine in Orlando and the Residence Inn in Coconut Grove, all on behalf of separate sellers.