AON Hospitality Group buys the 127-room Hampton Inn Miami Airport East in Miami. Other terms and conditions were not disclosed. Hunter Advisors has arranged the sale.
The transaction was brokered by Hunter's Sophia Pittaluga, senior vice president, and Robert Taylor, executive vice president, on behalf of the anonymous seller.
Built in 2017, the five-story Hampton by Hilton property is located near Miami International Airport and has amenities including complimentary hot breakfast, an outdoor pool, fitness center, business center, complimentary Wi-Fi and 748 square feet of meeting space.
“Miami continues to be one of the most competitive hotel investment markets we track, and this transaction was no exception as we saw significant interest from buyers throughout the process,” Pittaluga said in a statement. She added that investor confidence remains strong in Miami’s long-term fundamentals and cited development projects such as Miami Freedom Park as drivers of interest in the submarket.
The hotel is located near downtown Miami, Brickell, Coral Gables, the Miami Health District, Wynwood Arts District, PortMiami and South Beach. The property is also less than a mile from Miami Freedom Park, the planned $1 billion mixed-use entertainment district anchored by Inter Miami CF’s future stadium.
“We are excited to acquire this hotel in Miami and look forward to growing in the South Florida market in the upcoming years,” said Gary Patel, president of AON Hospitality Group. “We believe Miami is one of the most dynamic and vibrant markets, and this investment aligns with our underwriting criteria.”
Patel said the company sees growth opportunities tied to continued investment in Miami International Airport, Miami Freedom Park, the Miami Financial District and other developments across the market.