{"id":305479,"date":"2026-06-12T18:10:27","date_gmt":"2026-06-12T18:10:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/305479\/"},"modified":"2026-06-12T18:10:27","modified_gmt":"2026-06-12T18:10:27","slug":"brookfield-sells-mayfair-house-in-miami-for-69-million","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/305479\/","title":{"rendered":"Brookfield Sells Mayfair House in Miami for $69 Million"},"content":{"rendered":"

Billionaire Paul Singer\u2019s hedge fund has joined forces with a company led by former Starwood Capital Group executive Keith Evans to acquire the Mayfair House Hotel & Garden in Miami\u2019s Coconut Grove neighborhood for $69.4 million from Brookfield Asset Management, records show.<\/p>\n

An entity tied to West Palm Beach-based Elliott Investment Management and London-based Lifestyle Hospitality Capital Group purchased the property at 3000 Florida Avenue, assuming Brookfield\u2019s $41 million mortgage from Acore Capital and increasing it to $79 million.<\/p>\n

The debt amount suggests the deal\u2019s total value may exceed the recorded sale price once personal property and other assets are factored in, according to Vizzda. Hotel sales often include assets not reflected in deed records, such as furniture, fixtures and equipment, branding and management agreements.<\/p>\n

Brookfield acquired the 1.53-acre property in 2019 for $46.8 million, meaning the latest sale reflects a roughly 49 percent increase in value over seven years.<\/p>\n

Built in 1982, the five-story Mayfair House includes 179 guestrooms with balconies, 22 connecting rooms and 31 suites, according to the hotel\u2019s website.<\/p>\n

The sale equates to roughly $1,000 per square foot of land and about $387,700 per guest room.<\/p>\n

Representatives from Elliott, LHCG and Brookfield did not immediately respond to requests for comment.\u00a0<\/p>\n

This deal isn\u2019t the first South Florida hotel venture with Elliott and LHCG.<\/p>\n

In 2024, the firms paid $53 million<\/a> for the Gates Hotel South Beach at 2360 Collins Avenue in Miami Beach, acquiring the property from Boston-based Rockpoint.<\/p>\n

That deal came months after Singer\u2019s hedge fund and Boca Raton-based Morning Calm Management paid $443 million<\/a> for the 33-story office tower at 701 Brickell in Miami, purchasing the property from New York-based Nuveen Real Estate.<\/p>\n

Tyko Capital, a New York-based real estate firm backed by Elliott, has also become a major construction lender in South Florida, providing more than $1 billion in financing. That includes a $410 million<\/a> loan to David Martin\u2019s Terra and AB Asset Management for the eight-story Well Coconut Grove project, as well as $565 million<\/a> for the now-completed 830 Brickell office tower developed by Vlad Doronin\u2019s OKO Group and Cain International.<\/p>\n

During the pandemic, Singer relocated Elliott\u2019s headquarters<\/a> from New York to West Palm Beach, moving into 360 Rosemary, an office tower developed by Stephen Ross\u2019 Related Companies.<\/p>\n

Singer has made a name for himself as one of Wall Street\u2019s most prominent activist investors<\/a>, a strategy that involves acquiring significant minority stakes in public companies and pushing for changes aimed at increasing shareholder value.<\/p>\n

Elliott\u2019s holdings include Honeywell, Hewlett Packard Enterprise, Norwegian Cruise Line Holdings, PepsiCo and Southwest Airlines, among others.<\/p>\n

Singer has amassed a $6.7 billion fortune, according to Forbes. Elliott manages more than $128 billion in assets, according to the firm\u2019s latest investment adviser filing with the U.S. Securities and Exchange Commission.<\/p>\n

Brookfield, led by CEO Connor Teskey, is also an active player in South Florida real estate.<\/p>\n

In 2024, the firm sold its majority stake in the Ritz-Carlton Key Biscayne<\/a> back to Gencom, giving the Miami-based firm full ownership of the waterfront resort.<\/p>\n

A year earlier, Brookfield sold the Diplomat Beach Resort in Hollywood to Trinity Investments and Credit Suisse for $835 million<\/a>. The investment giant\u2019s current South Florida holdings include the Shops at Merrick Park in Coral Gables and a stake in the Miami Design District.<\/a><\/p>\n

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In $53M deal, Paul Singer\u2019s firm adds Gates Hotel South Beach to growing South Florida portfolio<\/p>\n

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Elliott completes Brickell office tower purchase for $443M, solidifying the hedge fund\u2019s position as major South Florida player<\/p>\n

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Why Elliott Management is buying an obscure office REIT<\/p>\n

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David Martin scores $410M loan for Well-branded Coconut Grove condos<\/p>\n

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Back to Gencom: Brookfield sells its majority stake in Ritz-Carlton Key Biscayne<\/p>\n

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Billionaire Paul Singer’s hedge fund dumps NYC for West Palm Beach<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Billionaire Paul Singer\u2019s hedge fund has joined forces with a company led by former Starwood Capital Group executive…\n","protected":false},"author":2,"featured_media":305480,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[127846,225,227,226],"class_list":["post-305479","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-elliott-lhcg-mayfair-house","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/305479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=305479"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/305479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/305480"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=305479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=305479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=305479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}