{"id":1004325302,"date":"2019-05-21T21:54:39","date_gmt":"2019-05-22T05:54:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004325302"},"modified":"2019-05-21T21:54:39","modified_gmt":"2019-05-22T05:54:39","slug":"metro-miami-hotel-sells-for-40m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/","title":{"rendered":"Metro Miami Hotel Sells for $40M"},"content":{"rendered":"<div id=\"attachment_1004325305\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004325305\" data-attachment-id=\"1004325305\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/palm-house-hotel-exterior-front\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg\" data-orig-size=\"1335,1001\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.4&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;X-T2&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1533899474&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;14.5&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;Palm House Hotel Exterior Front&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Palm House Hotel\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Palm House Hotel&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg?w=1024\" class=\"wp-image-1004325305 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg\" alt=\"The Palm House Hotel\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg 1335w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004325305\" class=\"wp-caption-text\">The Palm House Hotel. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p><\/div>\n<p>Cushman &amp; Wakefield, working on behalf of 160 Royal Palm LLC,&nbsp;has facilitated the disposition of&nbsp;The Palm House Hotel&nbsp;in Palm Beach, Fla., via a&nbsp;Section 363 bankruptcy sale. 160 Royal Palm LLC is a court-appointed receiver managed by former Delray Beach Mayor&nbsp;Cary Glickstein. A London + Regional Properties subsidiary purchased the asset for $39.6 million in cash, or $501,266 per unit.&nbsp;The acquisition marks the company&#8217;s first foray into the U.S. market.&nbsp;<\/p>\n<p>The Palm House Hotel is&nbsp;located at&nbsp;160 Royal Palm Way&nbsp;on Palm Beach Island, close to Interstate 95 and Florida&#8217;s Turnpike. The 82,648-square-foot, 79-key building was initially developed in 1961 on a nearly 1.4-acre site and expanded in 1981. In 2006, the property underwent major renovations that were stopped in 2014 due to legal entanglements. The new owner intends to restore and reposition the asset, which is currently vacant.<\/p>\n<p>Cushman &amp; Wakefield\u2019s Robert Given,&nbsp;Errol Blumer,&nbsp;Robert Kaplan&nbsp;and&nbsp;Michael Mulkern of the South Florida multifamily team&nbsp;represented&nbsp;the seller in the deal.&nbsp;<\/p>\n<p>Roughly 50 miles south of&nbsp;The Palm House, a <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-42m-loan-for-fl-hotel-purchase\/\">236-key hotel traded for $66 million<\/a> last week, with HFF securing acquisition financing for the property through a top-tier CMBS lender.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>London + Regional Properties acquired the 79-key property in Palm Beach, Fla., via a Section 363 bankruptcy sale. The company plans to restore and reposition the asset.<\/p>\n","protected":false},"author":870,"featured_media":1004325305,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,1492,21742],"tags":[32799,45665,34337],"class_list":["post-1004325302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-miami","category-latest","tag-cushman-wakefield","tag-robert-given","tag-robert-kaplan"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Metro Miami Hotel Sells for $40M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metro Miami Hotel Sells for $40M\" \/>\n<meta property=\"og:description\" content=\"London + Regional Properties acquired the 79-key property in Palm Beach, Fla., via a Section 363 bankruptcy sale. The company plans to restore and reposition the asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-22T05:54:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1335\" \/>\n\t<meta property=\"og:image:height\" content=\"1001\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/\"},\"author\":{\"name\":\"Adriana Marinescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"headline\":\"Metro Miami Hotel Sells for $40M\",\"datePublished\":\"2019-05-22T05:54:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/\"},\"wordCount\":230,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/The-Palm-House-Hotel-e1558436856476.jpg\",\"keywords\":[\"Cushman &amp; Wakefield\",\"Robert Given\",\"Robert Kaplan\"],\"articleSection\":[\"Deals\",\"Hotel\",\"Investment\",\"Miami\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/\",\"name\":\"Metro Miami Hotel Sells for $40M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/The-Palm-House-Hotel-e1558436856476.jpg\",\"datePublished\":\"2019-05-22T05:54:39+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/The-Palm-House-Hotel-e1558436856476.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/The-Palm-House-Hotel-e1558436856476.jpg\",\"width\":1335,\"height\":1001,\"caption\":\"The Palm House Hotel\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metro-miami-hotel-sells-for-40m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Metro Miami Hotel Sells for $40M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\",\"name\":\"Adriana Marinescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"caption\":\"Adriana Marinescu\"},\"description\":\"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-marinescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Metro Miami Hotel Sells for $40M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/","og_locale":"en_US","og_type":"article","og_title":"Metro Miami Hotel Sells for $40M","og_description":"London + Regional Properties acquired the 79-key property in Palm Beach, Fla., via a Section 363 bankruptcy sale. The company plans to restore and reposition the asset.","og_url":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-05-22T05:54:39+00:00","og_image":[{"width":1335,"height":1001,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","type":"image\/jpeg"}],"author":"Adriana Marinescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/"},"author":{"name":"Adriana Marinescu","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"headline":"Metro Miami Hotel Sells for $40M","datePublished":"2019-05-22T05:54:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/"},"wordCount":230,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","keywords":["Cushman &amp; Wakefield","Robert Given","Robert Kaplan"],"articleSection":["Deals","Hotel","Investment","Miami","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/","url":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/","name":"Metro Miami Hotel Sells for $40M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","datePublished":"2019-05-22T05:54:39+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","width":1335,"height":1001,"caption":"The Palm House Hotel"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/metro-miami-hotel-sells-for-40m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Metro Miami Hotel Sells for $40M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1","name":"Adriana Marinescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","caption":"Adriana Marinescu"},"description":"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/The-Palm-House-Hotel-e1558436856476.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004325302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004325302"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004325302\/revisions"}],"predecessor-version":[{"id":1004325605,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004325302\/revisions\/1004325605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004325305"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004325302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004325302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004325302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}