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MIAMI—Starwood Capital Group, the LeFrak Organization and Invesco have teamed up on 1 Hotel & Residences South Beach. The condos will take up the top floors of the 417-room hotel.

A new brand in the hospitality industry, 1 Hotel is the brainchild of Starwood Capital Group chairman and CEO Barry Sternlicht. He is also the former chairman and CEO of Starwood Hotels & Resorts and creator of the widely successful W Hotels and St Regis hotel brands.

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