Latham & Watkins advised Constellation Hotels Holdings, a global real estate hospitality investment group, in the sale of the SLS Brickell, a 124-room luxury and lifestyle hotel located in the burgeoning downtown Miami Brickell submarket. The Kastrati Group acquired the hotel for US$53.5 million in a structured purchase transaction.
The SLS Brickell was developed by the Related Group, designed by Philippe Starck and Arquitectonica, opened in 2016 and is located within the SLS Tower, one of Brickell’s most successful mixed-use projects. Amenities include nearly 58,000 square feet of indoor and outdoor event space, an upscale three-meal restaurant, three bars and lounges, and an expansive rooftop pool and spa.
The Latham real estate team representing Constellation in the transaction was led by New York partner and Global Co-Chair of the Real Estate Practice Michelle Kelban and San Diego counsel Aaron Friberg, with associate David Rao. Advice was also provided on tax matters by New York partner Greg Hannibal, with associate Arash Lotfi.