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Image Credit EAST Hotels
Trinity Investments and Certares have sold the EAST Miami hotel to Blackstone Real Estate
Trinity Investments and Certares Real Estate Management LLC have completed the sale of the EAST Miami hotel to Blackstone Real Estate. The 352-room hotel, which opened in 2016, is located in the Brickell City Centre, a major retail and residential hub in Miami’s Brickell neighborhood.
The EAST Miami hotel features 89 serviced apartments and several dining venues, including the rooftop bar Sugar. The property was acquired by Trinity and Certares in 2021 from Swire Properties. During their ownership, the firms focused on operational improvements and revenue growth, achieving a significant increase in net operating income.
The transaction represents the first fully realized asset by Trinity GP Fund I L.P. and highlights the firm’s strategy of enhancing hotel performance in key markets. Certares leveraged its expertise in travel and hospitality to identify potential growth opportunities in the Brickell area.
Blackstone Real Estate’s acquisition reflects its confidence in the travel and hospitality sector, particularly in Miami’s rapidly transforming Brickell neighborhood. The area is recognized for its employment and population growth, as well as its diverse leisure and entertainment offerings.
Details of the transaction terms were not disclosed. The sale follows the successful recapitalization of the Hyatt Regency Greenwich by Trinity and Certares, as both firms continue to seek opportunities to improve hotel performance and deliver results for investors.
