Electra America Hospitality Group Acquires Iconic Brickell Avenue Hotel
The 201-key hotel located in the heart of Miami’s financial district was acquired for an undisclosed price and marks AKA’s debut in the Miami market.
The 201-key hotel located in the heart of Miami’s financial district was acquired for an undisclosed price and marks AKA’s debut in the Miami market.
Totaling 1.38 acres on the block running up to the iconic Lincoln Road, the portfolio includes 1.21 acres or 52,500 square feet of contiguous developable lots with an existing 55,516-square-foot mixed-use/retail structure along Alton Road and an additional 0.17-acre or 7,500-square-foot parking lot on the West Avenue side.
Colliers’ Executive Managing Director Mika Mattingly, Associate Cecilia Estevez, and Associate Christina Searles are handling the listing on behalf of the Klugler Family, the seller.
The 97-key boutique hotel marks the most recent acquisition for the group as part of its plans to acquire $300 million in hospitality assets across the U.S.
Located at 3601 North Miami Avenue in Miami, the site sits at the gateway of three of Miami’s three most dynamic, high-growth districts: Miami Design District, Midtown Miami, and Wynwood.
The project will include 1,300 apartments, office and retail, and possibly a hotel.
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The developer plans to transform the shuttered Ramada Inn into a mixed-use community with 251 rental units and 5,500 square feet of retail.
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