Bridgeton Holdings, a real estate investment firm based in New York and led by Atit Jariwala, has acquired the Sheraton Miami Airport Hotel for $67.5 million. The purchase includes the 405-room hotel located at 3900 Northwest 21st Street in Miami, according to public records and data from Vizzda.
The transaction values each room at approximately $166,700. Bridgeton financed the acquisition with a $59.3 million loan from Argentic Real Estate Investment 2.
The seller was an affiliate of HHM Hotels, also based in New York. HHM originally bought the property for $42.3 million in 2015, meaning it sold for over $25 million more than its previous sale price.
The Sheraton is situated near Miami International Airport and adjacent to Miami Freedom Park—a major development project valued at about $1 billion that features a new soccer stadium slated to become the home of Inter Miami CF, the city’s Major League Soccer team. The park is being developed by Jorge Mas, David Beckham, and Ares Management. This group also owns Inter Miami CF, which secured its first MLS championship last year.
Hotels in Miami-Dade County have experienced growth recently. According to the Greater Miami Convention & Visitors Bureau, average daily room rates rose to $279.70 in December compared to $269.69 during the same month in 2024 (https://www.miamiandbeaches.com/). Revenue per available room increased to $215.37 from $206.66 over the same period, while occupancy remained steady at about 77 percent.
One of last year’s significant hotel transactions not involving redevelopment was Blackstone’s purchase of East Miami for $147.8 million; sources say that including fixtures and non-real estate assets brought Blackstone’s total payment close to $300 million as part of Brickell City Centre’s mixed-use project (https://www.blackstone.com/).
