Starwood-Led Group Snaps Up Miami's Gansevoort Hotel

Law360, New York (February 2, 2012, 5:30 PM EST) -- An investment group led by real estate private equity firm Starwood Capital Group has purchased the 294,000-square-foot Gansevoort Miami Beach hotel from a Credit Suisse Group AG unit with plans for a $100 million renovation, according to a statement Thursday.

Greenwich, Conn.-based Starwood Capital — joined in its purchasing consortium by The LeFrak Organization and Invesco Ltd. — did not disclose the purchase price but said they plan to re-brand the hotel the Perry South Beach ahead of a 2013 relaunch date when renovations are expected...
To view the full article, register now.