Harbor by Signalry · Buy / sell deskTape 214 of 282Cited price
Public tape · 214 of 282 · 2017
Feb 1, 2017Historical cited · 2017
Ritz-Carlton Coconut Grove — Hersha acquisition
Hersha acquired the 115-room Ritz-Carlton in Coconut Grove, FL on February 1, 2017 for $36.0 million. Harbor PPK is $36.0 million ÷ 115. Hersha rounded the same math to $313,000 per key. The same subsequent-events paragraph names the completed buy, the 115 rooms, and that hotel price. Seller unnamed. Filing names Coconut Grove — Harbor will not invent a South Beach lock. Hersha’s January 2017 Courtyard Alexandria plus Residence Inn Greenbelt $62.0 million line stays combined. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hyatt Place King of Prussia stays off until one paper names month, a hotel price, and keys together. Hersha’s November 2016 Residence Inn Framingham plus Residence Inn Norwood $47.0 million line stays combined. Hersha’s June 8, 2017 three Hyatt House $130.5 million line stays combined. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Pan Pacific Seattle stays off until a filing names a hotel price and keys together. Not Host’s 2022 YVE $50 million downtown tape, not Pebblebrook’s 2023 Colonnade Coral Gables $63.0 million / 157 tape, not Sunstone’s 2022 Confidante Miami Beach $232.0 million / 339 tape, and not Hersha’s 2016 Ambrose Hotel $47.5 million / 77 tape. Older than the 2025–26 blotter cut.
$36.0M
Cited consideration · 115 keys · $313k / key
Hersha Exhibit 99.1 subsequent events: $36.0 million for the 115-room Ritz-Carlton in Coconut Grove, FL. Coconut Grove Ritz-Carlton — not a South Beach palace PPK.
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
Tape
$36.0M
$313,043 / key · 115 keys
Worksheet
$77.5M
$674,218 / key · Harbor defaults
Gap
+115%
Miami / South Beach · worksheet vs tape PPK
Hersha Exhibit 99.1 subsequent events: $36.0 million for the 115-room Ritz-Carlton in Coconut Grove, FL. Coconut Grove Ritz-Carlton — not a South Beach palace PPK.
Coconut Grove Ritz-Carlton. Hersha bought the 115-key house on February 1, 2017 for $36.0 million (February 22, 2017 Exhibit 99.1). Seller unnamed. Filing names Coconut Grove — Harbor will not invent a South Beach lock. Not Host’s 2022 YVE $50 million downtown tape, not Pebblebrook’s 2023 Colonnade Coral Gables $63.0 million / 157 tape, and not Sunstone’s 2022 Confidante Miami Beach $232.0 million / 339 tape.
On February 14, 2019 Host LP acquired the entity that owns 1 Hotel South Beach for approximately $610 million, including Class A and Class G OP units. Host IR names 429 keys. Trade press names Starwood Capital / Lefrak as sellers and Hodges Ward Elliott as seller broker. Lifestyle beachfront — not a limited-service Miami PPK. Desk hotel inventory is 426 keys; this tape uses Host’s 429.