MIA: SBE Sells SLS South Beach for $125 Million
Following the sale of the SLS Beverly Hills hotel for $195 million to Torrance multilevel marketing and hotel firm Sunrider International in May, Sam Nazarin has now sold the high-end and chic SLS Hotel South Beach. The famed hotel at 1701 Collins Avenue has a new owner, GoldenPeak Capital Real Estate, ooo bought the haute property for a reporterd $125 million, in other words $892,857 per room.
GoldenPeak Capital Real Estate is an internationally known real estate management company affiliated with Daniel Tain and Marco Ferri, based in Saint Peter Port, Guernsey. Sam Nazarian (founder, chairman, and CEO of SBE, a global hospitality and entertainment company) co-owned the hip South Beach hotel along with CIM Group.
Nazarian and CIM Group spent over $80 million redeveloping the original 1939 Art Deco building and the 1.3 acre South Beach property. In June 2012, the SLS South Beach opened its doors with an elite and impressive list of partners and collaborations including Chef Jose Andres, Chef Katsuya Uechi, and Lenny Kravitz, to name a few. The luxurious 14- room hotel is known for its posh lounging areas, Hyde Beach, the Terrace and Bar Centro and two fine-dining restaurants, Katsuya by Starck and The Bazaar by Jose Andres.
Sbe will continue to operate SLS South Beach, including Katsuya by Starck, Hyde Beach, and The Bazaar by Jose Andres through the year 2030 to secure the future of the dining and beverage choices, as per an agreement included in the sale. This will be GoldenPeak’s first U.S. Hospitality investment.
There are currently 12 sbe hotel properties under development, including, SLS Park Avenue, New York, SLS Hotel & Residences Brickell Miami, SLS LUX Hotel & Residences Brickell, SLS Seattle, SLS LUX Hotel & Residences Philadelphia, Hyde Hotel & Residences Hollywood, FL, Hyde Hotel & Residences Midtown Miami, SLS LUX Hotel & Residences Washington DC, SLS LUX Hotel & Residences Cabo – Murano Beach, SLS LUX Hotel & Residences Cancun, SLS LUX Hotel & Residences Mexico City – Polanco, SLS LUX Hotel & Residences Puerto Vallarta, and SLS Hotel & Residences Punta Mita.
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