Miami, Mar. 31, 2023 - JLL 's Hotels & Hospitality Group announced today that is has closed the sale of the Hotel Colonnade Coral Gables, an award winning, 157-room luxury hotel in Coral Gables, Florida.
JLL represented the seller, Pebblebrook Hotel Trust and procured the buyer. In addition, JLL secured acquisition financing for the buyer.
Located at 180 Aragon Ave in Coral Gables, the Colonnade embraces both historic elements and modern luxury aesthetics in its 157 guestrooms, 34,000+ square-feet of versatile, fully renovated indoor and outdoor meeting and event space, luxurious amenities, and food & beverage options. The hotel underwent a property-wide renovation in 2016 that repositioned the hotel as a luxury lifestyle, industry-leading hotel in the market.
The city of Coral Gables is situated in the heart of Downtown Miami, on the corner of Ponce de Leon and Miracle Mile, the busiest junction in the city. Miracle Mile is renowned for its entertainment, dining and nightlife, while a number of unique attractions sit nearby.
Coral Gables is a multi-faceted lodging market that caters to business, group and leisure travelers due to its unparalleled connectivity and proximity to major demand generators. The city is less than 30 minutes from the University of Miami, Miami International Airport, Brightline Miami Station and PortMiami.
The JLL Hotels & Hospitality team representing the seller was led by Senior Vice President Christopher Exler and Associate Pamela Vasquez.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Mark Fisher.
JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group's 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2023 23:50:12 UTC.
