Miami, FL
Service Properties Trust purchases 250-key hotel in Miami Beach
CBRE Hotels and Eastdil Secured arrange the sale of Nautilus by Arlo
June 1, 2023
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CBRE Hotels and Eastdil Secured have arranged the sale of Nautilus by Arlo, a 250-key hotel located at 1825 Collins Avenue in Miami Beach, Fla. Service Properties Trust purchased the property which will be operated by Sonesta International Hotels Corporation.
Paul Weimer, Christian Charre, and Jennifer Jin of CBRE Hotels, along with Scott Ellman, Alyssa Kidd, and Peter Flexner of Eastdil Secured, represented the seller, Quadrum Global, in the transaction.
“The buyer recognized the irreplaceable value of property as a historical oceanfront hotel in the core of Miami Beach’s high-end culinary and lodging scene,” said CBRE Executive Vice President Paul Weimer. “It is extremely rare to find an oceanfront hotel of this stature being offered fully unencumbered by brand and management.”
Nautilus by Arlo sits in the heart of the most desirable neighborhood in Miami Beach: the famous Art Deco district. The Nautilus opened its doors on March 15, 1951. Originally designed by the acclaimed architect Morris Lapidus, the hotel was fully restored in 2015, paying homage to its glamorous history. In 2018, the hotel rebranded to an Arlo and is currently known as Nautilus by Arlo.
The eight-story hotel features luxurious guestrooms inspired by a luxury mid-century European beach house, as well as 50 suites and one two-bedroom penthouse. The expansive lobby features 25-foot ceilings, complete with a coffee shop, sunken lounge and bar area.
“Miami continues to be an exciting and dynamic global market with its attractive business environment and desirable leisure travel attributes. We congratulate both parties on this successful transaction and look forward to the upgraded experience Services Properties Trust is planning to create for this highly coveted landmark property,” added Eastdil Secured Managing Director Scott Ellman.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, sales, joint ventures, debt placement, structured credit and loan sales to investors around the world. Headquartered in New York, Eastdil Secured has a broad global footprint to support clients with offices across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Los Angeles, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in Dubai, Dublin, Frankfurt, London, Milan, Paris, Hong Kong and Tokyo. For more information on Eastdil Secured, the global real estate investment bank, please visit https://www.eastdilsecured.com.