Vagabond Buys Historic Miami River Hotel

MIAMI—“Bringing in a group with a passion for redeveloping historic properties ensures its bright future.

By Jennifer LeClaire | Updated on April 21, 2015

MIAMI—The Miami River has gotten a new lease on life. There’s significant redevelopment activity along the river banks. Tourism is booming in Miami’s urban core.

Against that backdrop, Aztec Group brokered the sale of Miami’s longest-operating hotel: The Miami River Inn. Aztec represented Vagabond Group, led by Avra Jain, for $8.6 million. Jain’s vision and leadership has led to the renovation of the historic Vagabond Motel, the marquee 45-room property of the MiMo District with a restaurant on the street level of Biscayne Boulevard.

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