South Street Partners has acquired Solé Miami, an oceanfront boutique hotel in Sunny Isles Beach, Fla., expanding the firm’s South Florida hospitality portfolio. Other terms and conditions were not disclosed.
The 249‑guestroom, full‑service condominium hotel is managed and operated by Noble House Hotels & Resorts. Amenities include indoor and outdoor meeting space, multiple food-and-beverage outlets, a fitness center with steam room and sauna, an oceanfront pool and private beach service.
South Street plans guestroom and common-area upgrades, followed by additional capital improvements designed to enhance the overall resort experience.
“We are pleased to be adding Solé to our South Florida hospitality portfolio, representing our continued conviction in the long-term strength of coastal and beachfront resort real estate,” Peter Lunenburg, principal of South Street Partners, said in a statement. “Sunny Isles is one of the highest-growth revenue-per-available-room markets in Florida, and we see meaningful opportunity through continued investment.”
“Solé Miami represents an exciting opportunity to further elevate one of South Florida’s most compelling beachfront destinations,” said Sean Mullen, president of acquisitions, sales and revenue management for Noble House Hotels & Resorts.