MIAMI BEACH, FLA. — A partnership between investors Pebb Capital and LeaseFlorida has sold Hampton by Hilton at The Continental, a historic hotel located at 4000 Collins Ave. in Miami Beach. The undisclosed buyer, a privately held limited liability company, purchased the 100-room hotel for $43.9 million. According to the sellers, the transaction marks the second-highest price per room sale in Hampton’s portfolio. The sellers invested $25 million to renovate the five-story property in 2016. The renovation included repositioning the property back to lodging and restoring its historic façade, the pool and its original reception desk. Built in 1948 as the Continental Hotel, the property served as a condominium community in the early 1990s before converting back to its original use. Situated one block from the Atlantic Ocean, the Hampton by Hilton hotel features a pool, fitness center and business center, as well as complimentary breakfast and to-go breakfast bags for guests.
Pebb Capital, LeaseFlorida Sell Hampton by Hilton Hotel in Miami Beach for $43.9M