Blackstone pays $148M for Brickell's East Miami

Funds affiliated with New York-based Blackstone have purchased the 352-key East Miami hotel in Brickell for $148 million, breaking down to $419,886 per key. The sellers, funds managed by Honolulu, Hawaii-based Trinity Investments and New York-based Certares, announced the sale in a news release last week, but did not disclose the purchase price. The deal closed last week and the deeds became public on Friday.

The East Miami hotel is located within the Brickell City Centre mixed-use complex, which was completed in 2016 by Miami-based Swire Properties. The complex spans about five city blocks and includes a shopping center, office buildings, and residential units.

The purchase of the East Miami hotel is the latest in a string of acquisitions by Blackstone in the Miami area. The firm also owns the historic Surf Club in Surfside, the Boca Raton Resort & Club, and the JW Marriott Miami Turnberry Resort & Spa in Aventura.

In a statement, Swire Properties expressed their confidence in Blackstone as the new owners of the East Miami hotel, stating that the firm has a "proven track record in the hospitality sector and will be an excellent long-term partner."

Originally reported by The Real Deal.

https://therealdeal.com/miami/2025/09/15/revealed-blackstone-pays-148m-for-brickells-east-miami/