Trinity Investments and Certares Real Estate Management have announced the sale of EAST Miami, a 352-room lifestyle hotel located in the heart of Miami’s Brickell neighborhood, to funds affiliated with Blackstone Real Estate. The transaction marks a strategic exit for the sellers, who acquired the property in 2021 from Swire Properties and implemented operational enhancements that led to a more than 60% increase in net operating income during their first full year of ownership.
EAST Miami, which opened in 2016, serves as the hospitality anchor of Brickell City Centre—a $1.1 billion mixed-use development featuring luxury retail, residential, and entertainment offerings. The hotel includes 89 serviced apartments and is home to Sugar, a rooftop bar that has become a staple of Miami’s nightlife scene.
Under Trinity and Certares’ stewardship, the hotel benefited from a close partnership with Swire Hotels, the original developer and a relatively new entrant to the U.S. market. This collaboration helped optimize performance and elevate EAST Miami’s positioning in the competitive hospitality landscape.
The sale follows the firm’s recent recapitalization of the Hyatt Regency Greenwich and reflects its ongoing strategy of enhancing hotel assets and delivering strong returns to investors.
The terms of the deal were not disclosed.
KEY QUOTES:
“EAST Miami is a great example of how hands-on ownership and strategic partnerships can create meaningful value. This transaction also marks the first fully realized asset by Trinity GP Fund I L.P., underscoring our ability to identify and enhance high-quality hotels in key markets.”
Sean Hehir, Managing Partner, President, and CEO of Trinity Investments
“This transaction demonstrates how we at Certares use our deep travel and hospitality expertise, as well as our proprietary data and market insights, to identify neighborhoods and assets that are poised for growth. With focused management and strategic capital deployment, we have helped EAST Miami become a truly world-class destination, and we look forward to watching the hotel’s positive trajectory continue under Blackstone’s experienced stewardship.”
Nolan Hecht, Senior Managing Director and Head of Real Estate at Certares
“The acquisition of this luxury hotel located in one of the most dynamic areas of Miami reflects our strong conviction in travel and hospitality. The Brickell neighborhood is experiencing a rapid transformation with strong employment and population growth, as well as exciting leisure attractions and entertainment events, creating a compelling backdrop for the property.”
Scott Trebilco, Senior Managing Director at Blackstone Real Estate
