{"id":11553,"date":"2022-01-10T08:05:06","date_gmt":"2022-01-10T08:05:06","guid":{"rendered":"https:\/\/rclawllp.net\/?p=11553"},"modified":"2024-10-05T08:50:37","modified_gmt":"2024-10-05T08:50:37","slug":"rc-law-advises-ferrado-properties-on-the-sale-of-standard-lido-hotel-in-miami-beach","status":"publish","type":"post","link":"https:\/\/rclawus.com\/rc-law-advises-ferrado-properties-on-the-sale-of-standard-lido-hotel-in-miami-beach\/","title":{"rendered":"RC Law Advised Ferrado Properties on the Sale of a Hotel"},"content":{"rendered":"\r\n

\"\"<\/p>\r\n

RC Law <\/strong>acted as counsel to Ferrado Lido LLC<\/strong>, an affiliate of Ferrado Properties, on the sale of the 100-room, beachfront hotel Standard Lido Spa<\/strong> in Miami Beach, Florida.\u00a0 The hotel with 83,978 square feet was first opened in 1953 and is one of the iconic hotels in South Beach.\u00a0 The purchaser is JAWS Estates Capital, the family office of Barry Sternlicht, the founder and former President of the Starwood Hotels and the current President and CEO of Starwood Capital Group and Starwood Property Trust.\u00a0 The transaction was structured as an asset deal.\u00a0 Purchaser\u2019s counsel was advised by Denton\u2019s<\/strong> Miami and Phoenix offices.<\/p>\r\n\r\n\r\n\r\n

PRESS RELEASES<\/strong><\/p>\r\n\r\n\r\n\r\n

Sandra Ortega vende por 55 millones de euros un hotel en Miami<\/span><\/h3>\r\n\r\n\r\n\r\n

El fundador de Starwood, Barry Sternlicht, se hace con el establecimiento operado por Standard Hotels.<\/p>\r\n\r\n\r\n\r\n

Sandra Ortega hace caja con uno de los\u00a0hoteles que posee en Estados Unidos. Se trata del establecimiento que opera Standard Hotels en Miami Beach, cuya venta al fundador de la hotelera Starwood, Barry Sternlicht, se ha cerrado por unos 55 millones de euros, seg\u00fan han adelantado\u00a0The Real Deal<\/em>\u00a0y\u00a0Commercial Observer<\/em>.<\/p>\r\n\r\n\r\n\r\n

El hotel, que cuenta con unas 100 habitaciones, est\u00e1 ubicado en el n\u00famero 40 de Island Avenue, frente al mar. Una ubicaci\u00f3n privilegiada que le permite a este cuatro estrellas tener unas tarifas que arrancan en alrededor de 300 d\u00f3lares la noche.<\/p>\r\n\r\n\r\n\r\n

El multimillonario Sternlicht, fundador de la cadena hotelera Starwood y ahora presidente y consejero delegado de Starwood Capital Group y Starwood Property Trust, adquirir\u00e1 la propiedad a trav\u00e9s de su\u00a0family office<\/em>, JAWS Estates Capital. Seg\u00fan Forbes, Sternlicht tiene un patrimonio de 4.300 millones de d\u00f3lares. Tras la operaci\u00f3n, el hotel seguir\u00e1 siendo gestionado por Standard Hotels.<\/p>\r\n\r\n\r\n\r\n

El lujoso hotel de\u00a0Miami Beach\u00a0pas\u00f3 a manos de la familia Ortega en 2008, meses antes del inicio de la Gran Recesi\u00f3n. Lo compr\u00f3 Ferrado Lido, que pertenece a Rosp Corunna, sociedad controlada por Sandra Ortega. Entonces pag\u00f3 por la propiedad 34 millones de d\u00f3lares (unos 30 millones de euros al cambio actual), por lo que la operaci\u00f3n se ha cerrado por un precio de casi el doble.<\/p>\r\n\r\n\r\n\r\n

Esta es una de las propiedades que tiene la familia Ortega en Miami. Amancio tambi\u00e9n ha realizado grandes inversiones en la ciudad. Entre ellas destaca la compra de una manzana en Lincoln Road en 2015, por la que pag\u00f3 370 millones de d\u00f3lares. Y un a\u00f1o despu\u00e9s adquiri\u00f3 la torre de oficinas del Southeast Financial Center, en el centro de Miami, por 517 millones de d\u00f3lares.<\/p>\r\n\r\n\r\n\r\n

El hotel que deja de estar en la cartera de Ortega, llamado The Standard Spa, Miami Beach, tiene unos 9.300 metros cuadrados. Se construy\u00f3 en 1953: primero se denomin\u00f3 Monterrey Motel and Yacht Club, luego reabri\u00f3 en 1960 como Lido Spa y en 2005, tras una renovaci\u00f3n, comenz\u00f3 su andadura como Standard Spa.<\/p>\r\n\r\n\r\n\r\n

Source: https:\/\/elpais.com\/economia\/2022-01-07\/sandra-ortega-vende-por-55-millones-de-euros-un-hotel-en-miami.html<\/a><\/p>\r\n\r\n\r\n

\r\n\r\n\r\n

Starwood Buys Standard Hotel in Miami Beach for $62M<\/span><\/h3>\r\n\r\n\r\n\r\n

Starwood Capital Group\u00a0swapped a mall for a hotel in Miami.<\/p>\r\n\r\n\r\n\r\n

The real estate behemoth, led by billionaire\u00a0Barry Sternlicht, bought the\u00a0Standard Hotel\u00a0in Miami Beach for $62 million, according to property records.\u00a0<\/p>\r\n\r\n\r\n\r\n

Located on Belle Isle at\u00a040 Island Avenue, the three-story establishment holds 100 rooms, which cost more than $300 a night in the midst of the high season.\u00a0\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n

The deal equates to $620,000 per room. Sternlicht\u2019s family office,\u00a0JAWS Estates Capital,\u00a0loaned $49.6 million for the acquisition, per records.<\/p>\r\n\r\n\r\n\r\n

The seller purchased the 83,978-square-foot property for $34 million in April 2008, only months before the financial meltdown, per records. The entity is tied to\u00a0Sandra Ortega Mera\u00a0and\u00a0Marcos Ortega Mera, the children of Spanish billionaire and\u00a0Zara\u00a0founder\u00a0Amancio Ortega, according to\u00a0The Real Deal<\/em>, which first reported the deal.\u00a0<\/p>\r\n\r\n\r\n\r\n

The Ortega family are prominent Miami real estate investors. The Ortega patriarch purchased an entire block along Lincoln Road for $370 million in 2015, which at the time was the second-largest real estate deal in Miami-Dade County\u2019s history, per the\u00a0Miami Herald<\/em>.\u00a0<\/p>\r\n\r\n\r\n\r\n

The following year, he topped himself by buying Downtown Miami\u2019s\u00a0Southeast Financial Center\u00a0office tower for $517 million.\u00a0<\/p>\r\n\r\n\r\n\r\n

It\u2019s a busy week for Starwood in Miami. The Standard hotel deal comes only a day after the investment firm\u00a0sold a Hialeah mall\u00a0for $149 million as the firm seeks to unload most of its shopping centers investments. Late last month, the firm also opened its newly constructed headquarters in Miami Beach.\u00a0<\/p>\r\n\r\n\r\n\r\n

Source: https:\/\/commercialobserver.com\/2022\/01\/starwood-standard-hotel-miami-beach-barry-sternlich-ortega-zara-inditex\/<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"

RC Law acted as counsel to Ferrado Lido LLC, an affiliate of Ferrado Properties, on the sale of the 100-room, beachfront hotel Standard Lido Spa in Miami Beach, Florida.\u00a0 The hotel with 83,978 square feet was first opened in 1953 and is one of the iconic hotels in South Beach.\u00a0 The purchaser is JAWS Estates […]<\/p>\n","protected":false},"author":2,"featured_media":13325,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[20],"class_list":["post-11553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-xavier-ruiz"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/rclawus.com\/wp-content\/uploads\/2022\/01\/ferrado-Standard-Lido-Miami.png?fit=800%2C600&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/posts\/11553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/comments?post=11553"}],"version-history":[{"count":5,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/posts\/11553\/revisions"}],"predecessor-version":[{"id":14259,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/posts\/11553\/revisions\/14259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/media\/13325"}],"wp:attachment":[{"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/media?parent=11553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/categories?post=11553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rclawus.com\/wp-json\/wp\/v2\/tags?post=11553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}