JLL’s Hotels & Hospitality Group closed the sale and financing of the luxury hotel in Coral Gables
News release
31 March 2023
Colonnade Hotel Coral Gables trades
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Miami, Mar. 31, 2023 – JLL’s Hotels & Hospitality Group announced today that is has closed the sale of the Hotel Colonnade Coral Gables, an award winning, 157-room luxury hotel in Coral Gables, Florida.
JLL represented the seller, Pebblebrook Hotel Trust and procured the buyer. In addition, JLL secured acquisition financing for the buyer.
Located at 180 Aragon Ave in Coral Gables, the Colonnade embraces both historic elements and modern luxury aesthetics in its 157 guestrooms, 34,000+ square-feet of versatile, fully renovated indoor and outdoor meeting and event space, luxurious amenities, and food & beverage options. The hotel underwent a property-wide renovation in 2016 that repositioned the hotel as a luxury lifestyle, industry-leading hotel in the market.
The city of Coral Gables is situated in the heart of Downtown Miami, on the corner of Ponce de Leon and Miracle Mile, the busiest junction in the city. Miracle Mile is renowned for its entertainment, dining and nightlife, while a number of unique attractions sit nearby.
Coral Gables is a multi-faceted lodging market that caters to business, group and leisure travelers due to its unparalleled connectivity and proximity to major demand generators. The city is less than 30 minutes from the University of Miami, Miami International Airport, Brightline Miami Station and PortMiami.
The JLL Hotels & Hospitality team representing the seller was led by Senior Vice President Christopher Exler and Associate Pamela Vasquez.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Mark Fisher.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 49 hotels and resorts, totaling approximately 12,500 guest rooms across 14 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.