Reuben Brothers have acquired luxury Miami hotel W South Beach from Tricap and RFR.
Tricap and RFR acquired the 3.5-acre property in 2004 and commenced the development of W South Beach along with The Residences at W South Beach, opening the hotel’s doors in 2009. The property, which comprises 348 managed hotel and condo units, has now been purchased by the Reuben Brothers in a deal valued at over $400 million.
Jeffrey Davis, managing director of Eastdil Secured served as advisor to the seller.
The acquisition marks the Reuben Brothers’ second significant hotel acquisition in Florida, following the company’s purchase of the Chesterfield in Palm Beach which is set to debut its transformation as The Vineta in early 2025 under the Oetker Collection. The company also owns a stake in JW Marriott Miami Turnberry Resort & Spa, which recently underwent a $300 million renovation and now offers 685 rooms and suites, additional event space, a 36-hole golf course and the Tidal Cove Waterpark.
South of the border, in Puerto Rico, the Reuben Brothers and their partners at Three Rules Capital are developing Esencia, a $2.6 billion luxury community on the island’s southwest coast. Set over 2,000 acres in Cabo Rojo, Esencia will feature five luxury hotels featuring renowned brands such as Mandarin Oriental Hotel Group and Rosewood Hotels & Resorts alongside 900 branded residences, two golf courses and other sports facilities, a town centre, medical wellness facilities and a K-12 school.
What they said
Jamie Reuben, principal at Reuben Brothers said: “We are excited to build on the extraordinary success that has already been achieved. Our vision is clear: to secure its standing as Miami’s leading global destination, while reimagining its future and delivering an unparalleled luxury experience.”