InSite Teams With Carlyle In $13.5M Miami Hotel Buy

Law360, New York (September 20, 2011, 6:22 PM EDT) -- Florida real estate investment firm InSite Group said Tuesday it had teamed up with the Carlyle Group LP to buy the aging and underutilized 243-room Continental Bayside Hotel in Miami for a reported price of $13.5 million.

The purchase comes as the private equity giant has taken an interest in Miami's resurgent downtown area. Carlyle has invested in seven hotels in the Miami and Fort Lauderdale area, it said.

“We continue to be impressed with the performance of the lodging market there, with strong demand from...
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