South Street Partners, a private equity real estate investment and development firm headquartered in Charlotte and Charleston, announced the acquisition of Solé Miami, an oceanfront boutique resort located in Sunny Isles Beach. The acquisition expands South Street’s hospitality footprint in South Florida and strengthens its presence in high-growth coastal resort markets.
Solé Miami is a 249-key full-service condominium hotel situated on the northernmost stretch of Miami Beach, an area known for luxury high-rise developments, upscale dining, and proximity to destinations including South Beach, Bal Harbour, and Aventura. The property is managed and operated by Noble House Hotels & Resorts.
The resort features five indoor and four outdoor meeting venues, multiple food and beverage outlets, a fitness center with sauna and steam room, an oceanfront pool, private beach services, and dune-side dining experiences. South Street said it plans to significantly upgrade the property through renovations to guestrooms and common areas, followed by additional enhancements designed to elevate the guest experience.
South Street said the acquisition aligns with its strategy of investing in hospitality and resort assets across Southeastern and Sunbelt markets. The firm cited the Sunny Isles submarket as one of Florida’s fastest-growing RevPAR markets and an attractive long-term investment opportunity in beachfront resort real estate.
The acquisition adds to South Street’s hospitality portfolio, which includes properties such as Kiawah Island, Palmetto Bluff, PGA National Resort, Sawgrass Marriott Golf Resort & Spa, Naples Grande Beach Resort, and Arizona Biltmore.
Founded in 2009, South Street Partners said it has deployed more than $1.7 billion of equity investments and oversees more than $3 billion in assets under management across resort, residential, and commercial properties.
Noble House Hotels & Resorts operates a portfolio of 30 luxury hotels, resorts, and travel experiences across North America and Mexico. The company was named one of Travel + Leisure’s Top 25 Hotel Brands in both 2024 and 2025.
KEY QUOTES:
“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. The Sunny Isles sub-market of Miami Beach is an attractive target for South Street, representing one of the highest growth RePAR markets in Florida and we are confident that we can deliver exceptional experiences for our guests through continued capital improvement of the asset.”
Peter Lunenburg, Principal, South Street Partners
“Solé Miami represents an exciting opportunity to further elevate one of South Florida’s most naturally compelling beachfront destinations. 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.”
Sean Mullen, President, Acquisitions, Sales & Revenue Management, Noble House Hotels & Resorts
