Overview

• Trinity Real Estate Investments and Certares completed the sale to Blackstone on Sept. 10, transferring the 352-room hotel at Brickell City Centre.
• The 39-story property opened in 2016 and includes 89 serviced apartments within the mixed-use complex at 788 Brickell Plaza.
• The sellers did not disclose the price, and Blackstone did not comment on terms, after Trinity and Certares reportedly bought the hotel for $174 million in 2021.
• Blackstone highlighted Brickell’s employment and population growth as part of its investment case and is expanding its South Florida hotel presence.
• Nearby development momentum continues as Swire sold an adjacent parcel to Kerzner International for $45 million last month, which could lead to another hotel project.