June 6, 2016
Pebblebrook Hotel Trust, based in Bethesda, MD, has closed on the separate sales of Viceroy Miami in Miami, Florida for $64.5 million, The Redbury Hotel in Los Angeles, California for $40.9 million and a land parcel adjacent to Revere Hotel Boston Common in Boston, Massachusetts for $6.0 million.
The hospitality REIT acquired the 148-room Viceroy Miami at 485 Brickell Ave. for $36.5 million in 2011. Pebblebrook sold it to Qatar hotel investment firm Al Rayyan Tourism Company, which is rebranding the property as a Starwood Hotels & Resorts W Miami.
In August 2013, Pebblebrook bought the 57-room Redbury Hotel for $34 million. The boutique property at 1717 Vine St. (Hollywood and Vine), sold to a group owned by Microsoft co-founder Paul Allen.