Calif. RE Investor Laurus Snaps Up Sofitel Miami Hotel

Law360, New York (December 10, 2012, 5:18 PM EST) -- California-based private real estate investment firm Laurus Corp. said Monday that it has completed the purchase of Sofitel Miami, a 14-story luxury hotel, acquiring the property from Illinois real estate investor Gem Realty Capital Inc.

Laurus, a Los Angeles-based investor that specializes in hotel and resort property acquisition and management, acquired the hotel for an undisclosed sum. The luxury hotel has 281 rooms and more than 17,000 square feet of meeting and event space on its 10-acre plot in Miami, Laurus said.

"Hospitality is experiencing rapid...
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