Witkoff Group Drops $25.5M On South Beach Hotel

Law360, New York (April 15, 2013, 5:02 PM EDT) -- New York-based real estate developer The Witkoff Group has shelled out $25.5 million to buy the former Wyndham Garden Hotel Miami South Beach from Majestic Organization LLC, broker CBRE Group Inc. announced Monday.

The five-building 133-room property, located at 1050 Washington Ave. in Miami Beach, is named The Garden Hotel South Beach and is operated by Trust Hospitality LLC.

“The demand for hotels in South Beach continues to increase with more institutional investors seeking opportunities in the market,” said Christian Charre, senior vice president of CBRE...
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