South Street Partners has acquired Solé Miami Beach Resort in Sunny Isles Beach, FL. The 249-key full-service condominium hotel is managed and operated by Noble House Hotels & Resorts and features ocean and city views, direct beach access, indoor and outdoor meeting venues, multiple food-and-beverage outlets, a fitness center, oceanfront pool and private beach services.
South Street plans to elevate the resort through guestroom and common area upgrades followed by additional improvements.
Peter Lunenburg, principal, South Street Partners, said the acquisition reflects the company’s continued focus on coastal and beachfront resort real estate.
“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,” he said. “The Sunny Isles sub-market of Miami Beach is an attractive target for South Street, representing one of the highest growth RevPAR markets in Florida and we are confident that we can deliver exceptional experiences for our guests through continued capital improvement of the asset.”
Sean Mullen, president, acquisitions, sales & revenue management, Noble House Hotels & Resorts, said the companies plan to build on the resort’s existing foundation.
“Solé Miami represents an exciting opportunity to further elevate one of South Florida’s most naturally compelling beachfront destinations,” he said. “Together with South Street Partners, we look forward to building on the resort’s strong foundation while creating an even more vibrant and experience-driven future for guests and team members alike.”
