Mayfair Hotel & Spa has new owners
The hotel was built in 1985 as the brainchild of Miami architect Ken Treister.
“Coconut Grove is going through a dramatic transformation,” said Bobby Schlesinger, Managing Member of Copperline. “For us, the timing is perfect. With the addition of SapientNitro’s headquarters directly next door, and the multi-million dollar Grove Bay project, there is no better time to invest in the bright future of Coconut Grove.”
Heralding its 30th anniversary with the completion of more than $10 million in extensive renovations to the entire property and all interiors of the luxury suites, the Gaudi-inspired hotel represents one of Miami’s historic architectural masterpieces, blending Art Nouveau, Asian and Old World European inspirations.
The Mayfair features 179 luxury suites, most with private terraces; they offer a chic rooftop pool deck surrounded by eight private cabanas.
“We are delighted to have completed the purchase of the Mayfair Hotel and Spa and look forward to partnering with Copperline Partners on this investment. Copperline, through its hotel management company Obadon, has done a fantastic job operating the hotel through the market downturn and we believe that the Mayfair is extremely well positioned to benefit from the exciting transformation occurring in the Grove”, said TriGate Managing Member Jeff Yarckin.
Copperline Partners has over 50 years of experience in hospitality and multi-family real estate management and development. TriGate Capital, LLC is a market leading real estate private equity firm focused on the recapitalization and repositioning of real estate assets and companies.
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