{"id":1004346197,"date":"2019-08-15T05:56:08","date_gmt":"2019-08-15T13:56:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004346197"},"modified":"2019-08-18T22:40:40","modified_gmt":"2019-08-19T06:40:40","slug":"henley-investments-picks-up-miami-beach-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/","title":{"rendered":"Henley Investments Picks Up Miami Beach Hotel"},"content":{"rendered":"<div id=\"attachment_1004346200\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004346200\" data-attachment-id=\"1004346200\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/lord-balfour-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\" data-orig-size=\"821,616\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"lord balfour\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Lord Balfour hotel. Image courtesy of Life House&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg?w=821\" class=\"wp-image-1004346200 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg 821w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004346200\" class=\"wp-caption-text\">Lord Balfour Hotel. <em>Image courtesy of Life House<\/em><\/p><\/div>\n<p>Private equity firm Henley Investments has acquired its fourth boutique hotel in metro Miami with the purchase of Lord Balfour Hotel for $34.7 million. The deal is reportedly Henley\u2019s largest U.S. hotel acquisition to date.<\/p>\n<p>Life House, a company that frequently collaborates with Henley, will manage the asset. The total project capitalization, including acquisition and renovation costs, is in excess of $40 million, Life House\u2019s vice president of acquisitions and business development, Bryan Dunn, told&nbsp;<em>Commercial Property Executive.<\/em><\/p>\n<p>The 81-key hotel is located at 350 Ocean Drive in Miami Beach\u2019s South of Fifth neighborhood. Life House will initially operate the hotel under its historic name, but plans to undertake a comprehensive renovation that will update all guest rooms, suites and public spaces, as well as build out a fitness center and yoga studio.<\/p>\n<p>Following renovations, the hotel will be rebranded as Life House Ocean Drive and will join Henley\u2019s current roster of lifestyle hotels in Miami: the 33-key Life House Little Havana on 9th Avenue, the 26-key Life House South Beach on Collins Avenue and the 50-key Life House Mid Beach on Park Avenue.<\/p>\n<h2>Market moves<\/h2>\n<p>Last month, Life House <a href=\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\">received $100 million in equity commitments<\/a> from&nbsp;<br \/>\nBoston-based Blue Flag Partners which was anticipated to enable Life House to acquire between 7 and 10 hotels. Life House had recently taken over management of The Roberts Collection, an historic 58-room hotel in Nantucket, Mass., which Blue Flag had purchased in April.<\/p>\n<p>Last year, the Miami hospitality market saw a 2 percent increase in supply, but this was offset by a 2.5 percent increase in demand, as metro-wide ADR rose by 2.4 percent, according to a report from HVS. Average occupancy for the year was 76.7 percent, barely above the figure for 2017, but RevPAR rose at a nearly nation-leading pace.<\/p>\n<p>Still, HVS cautioned, first-quarter 2019 results point to some softening of RevPAR, though Miami Beach is one of the few submarkets to see this metric increase, mostly driven by ADR growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company again teamed up with tech-oriented hotel manager Life House for the duo\u2019s fourth and largest hospitality purchase in metro Miami.<\/p>\n","protected":false},"author":882,"featured_media":1004346200,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,1492,21742],"tags":[46706,46325],"class_list":["post-1004346197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-miami","category-latest","tag-henley-investments","tag-life-house"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Henley Investments Picks Up Miami Beach Hotel - 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\/henley-investments-picks-up-miami-beach-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Henley Investments Picks Up Miami Beach Hotel\" \/>\n<meta property=\"og:description\" content=\"The company again teamed up with tech-oriented hotel manager Life House for the duo\u2019s fourth and largest hospitality purchase in metro Miami.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/\" \/>\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=\"2019-08-15T13:56:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-19T06:40:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"821\" \/>\n\t<meta property=\"og:image:height\" content=\"616\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/\",\"name\":\"Henley Investments Picks Up Miami Beach Hotel - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\",\"datePublished\":\"2019-08-15T13:56:08+00:00\",\"dateModified\":\"2019-08-19T06:40:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/henley-investments-picks-up-miami-beach-hotel\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/lord-balfour-e1565876694156.jpg\",\"width\":821,\"height\":616,\"caption\":\"Lord Balfour hotel. 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