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The Confidante Miami Beach — Sunstone acquisition
$232,000,000 · $684,366/key
Sunstone purchased the fee-simple interest in the 339-room The Confidante Miami Beach, Florida in June 2022 for a contractual purchase price of $232.0 million. Harbor uses the first of June rather than inventing a closing day. Harbor PPK is $232.0 million ÷ 339. The same Q2 2022 10-Q names June, the 339 rooms, and that contractual price. Use the $232.0 million hotel price, not the $60 million renovation, not the $140.0 million credit-facility draw, and not the $0.5 million in-place allocation. Seller unnamed. Later Andaz Miami Beach is a rebrand, not a second tape. Not Host’s 2022 YVE $50 million / 242 downtown tape, not Pebblebrook’s 2023 Colonnade Coral Gables $63 million / 157 tape, and not Pebblebrook’s 2021 Margaritaville Hollywood Beach $270 million / 369 tape — that PPK is not a fee deed. The Hilton San Diego Bayfront 25% interest stays off. Older than the 2025–26 blotter cut.
Sunstone Hotel Investors Form 10-Q, quarter ended June 30, 2022 (closed June)