The Hall South Beach Hotel sold for $58.2 million to Spanish Group
January 24, 2018
The Hall South Beach Hotel, which is currently closed, was purchased by Spanish company Group Peralada for $58.2 million.
Haddon Hall Hotel Owner, an affiliate of New York-based Rockwood Capital, sold the 163-room hotel at 1500 Collins Ave., to Inverama USA Corp., an affiliate of Barcelona-based Grup Peralada. The price equated to $357,055 per room.
Totaling 72,554 square feet with a pool, the hotel was built on the 1.39-acre site in 1940. In May 2017, it sold 40,000 square feet of development right to Washington Gardens for its proposed development on Washington Avenue.
Grup Peralada owns wineries and casinos. The company dates back to 1904, when Barcelona lawyer and entrepreneur, Damià Mateu i Bisa, founded Hispano-Suiza Automobile Manufacturer S.A., according to the company website. The family acquired a 14th century estate and winery in 1923. In the late 1970s, the family opened the Gran Casino of Barcelona, and went on to establish several more casinos in Spain. Today, the family-run company is headed by Artur Suqué, Carmen Mateu and their children Isabel, Javier and Miguel.
Source & Credit The South Florida Business Journal.