Pebb Capital & LeaseFlorida sells Hampton by Hilton in Miami Beach, Florida for $43.90 million

Capital Pebb – a diversified, multi-strategy investment firm in real estate and private equity – in partnership with RentalFlorida, today announced the sale of Hampton by Hilton at The Continental in Miami Beach, Florida for $43.90 million. The deal is a record for the Hampton flag, marking the second-highest price per key in the brand’s portfolio. The five-story, 100-key property, which is historically designated, was rehabilitated in 2016 by the joint venture for $25 million.

Located at 4000 Collins Ave., the property is just one block from the ocean, giving guests prime access to the Miami Beach experience, with hospitality and entertainment just steps away. Bookings remained robust from fall 2021 to spring 2022, with occupancy still close to 100%.

“We have witnessed the evolution of the hospitality industry over the past 24 months, demonstrating that consumers are drawn to premium destination experiences and markets that are undergoing major transformation, such as Miami Beach,” said said Todd Rosenberg, CEO and co-founder of Pebb Capital. “The record price per key for this product demonstrates our vision to deliver a reimagined historic hotel and capitalize on the momentum and long-term growth of its location. We look forward to continuing our involvement in the market.

Pebb Capital and LeaseFlorida have embarked on the restoration of the former Continental Hotel and its historic facade, which is a MiMo (Miami Modern) designed by Abraham Herbert Mathes in the 1940s after World War II. The original marble-clad reception and swimming pool have also been restored, with a modern repositioning of its interiors to align with the Hampton by Hilton brand. In its historic past, the property was originally a hotel, then served as a condominium in the early 1990s, named The Continental on Collins Ave Condo, until it was converted back to its historic use.

Rooms and public areas offer the comforts and amenities synonymous with Hampton by Hilton, with a swimming pool, fitness center, and business center. Every Hampton by Hilton guest gets the brand’s free hot breakfast with healthy options; On the Run™ breakfast bags; and free WiFi in every room. Hampton continues to lead the pack in customer experience, with customer happiness the number one priority, backed by the 100% Hampton Guarantee™.

Hampton by Hilton at The Continental is part of Hilton Honors®, the award-winning guest loyalty program for Hilton’s 18 distinct hotel brands. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose almost any combination of points and cash to book a stay, exclusive discount for members that cannot be found anywhere else. and free standard Wi-Fi. Members also benefit from popular digital tools available exclusively through the industry-leading Hilton Honors mobile app, where Hilton Honors members can check in, choose their room and access it using a digital key.

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