SMS Lodging

Alden Hotel

Date acquired: Sept. 2017

Location: 2925 Indian Creek Dr., Miami Beach, FL 33140

Features: 120 room condo property in Miami Beach sold to a land developer in 2019.

Dissolution of a fractured condo-hotel

Purchased 71 of the units in 2018 for $17.2M in block purchase, with a planned goal of turning the property into a hotel. Over the next 12 months purchased ## more of the units in the building, and took over the condo association. In 2019, as the majority unit owner, SMS Lodging dissolved the “Condo Association” and began the initial process for converting the property into a Miami Beach hotel. In late 2019, a large developer initiated a discussion to purchase the property from SMS for a larger project. SMS sold the property for $21.3M approx 18 months after the initial purchase. SMS initiated and oversaw the accumulation of 68 individual condo units at Alden Hotel with a business plan of completing condominium conversations for the hotel concept. Accumulation of individual units was accomplished in 6 months and then the entire building was sold to the U.S. Hotel developer.

Other projects

The Link Hotel on Sunrise
See more

DATE ACQUIRED: Contracted 2015

FEATURES: SMS contracted to manage 144-room property for an asset management group with foreign investors

LOCATION: 1055 N. Federal Highway, Fort Lauderdale, FL, 33304, USA

Lord Balfour
See more

DATE ACQUIRED: Contracted 2019

FEATURES: Specialized Services - SMS was contracted to maintain physical asset while closed during Covid period.

LOCATION: 350 Ocean Dr., Miami Beach, FL 33139

Alden Hotel
See more

DATE ACQUIRED: Sept. 2017

FEATURES: 120 room condo property in Miami Beach sold to a land developer in 2019.

LOCATION: 2925 Indian Creek Dr., Miami Beach, FL 33140

The Beach Club at Peace & Plenty
See more

DATE ACQUIRED: Sep. 2018

FEATURES: 5 water facing Eco-Cottages and Beach Club and Bar.

LOCATION: Stocking Island, Exuma

Peace & Plenty Resort
See more

DATE ACQUIRED: Oct. 2017

FEATURES: 32 rooms, restaurant, historic bar, pool, and private boat transportation to the Peace & Plenty Beach Club.

LOCATION: Queen’s Highway Ex 29055, George Town, Exuma, Bahamas

Kahari Resort
See more

DATE ACQUIRED: Dec. 2021

FEATURES: 12 waterfront bungalows, 2 restaurants, and exclusive boat

LOCATION: Exuma, The Bahamas