Houston-based Dauntless Capital Partners has acquired the Arlo Wynwood Hotel in Miami for at least US$44.3 million. This is according to available property records. The nine-storey building features 217 guest rooms. Additionally, a ground-floor cafe and a rooftop bar and pool are integrated into its amenities.
The hotel is located at 2217 Northwest Miami Court, west of North Miami Avenue, at the southern end of Miami's Wynwood district. This area has developed into a hub for nightlife and high-end office space in recent years.
BMO Bank provided an acquisition loan of US$43 million to the buyer, a company specialising in hospitality. Although the deed lists a sale price of US$44.3 million, the actual price is likely to be higher. The stated sum excludes the hotel's furniture, fixtures and fittings, and business operations.
Property Details and Market Development
The seller, Quadrum Global, completed the 144,848 square foot hotel in 2022. Four years prior, in 2018, the 0.8-hectare plot was acquired for US$8.6 million. The current transaction occurs during a period where hotel occupancy across Miami-Dade County has decreased by 0.1 per cent year-on-year.
Nonetheless, room rates have increased by 11.2 per cent to US$293.7 over the same period, according to data from the Greater Miami Convention & Visitors Bureau. Neither Dauntless Capital Partners nor Quadrum Global immediately responded to requests for comment.
Hotel Background Information
- —Location: 2217 Northwest Miami Court, Wynwood, Miami
- —Number of rooms: 217
- —Completion: 2022 by Quadrum Global
- —Facilities: Cafe, rooftop bar, pool
