An affiliate of Claro Development has purchased three separate hotels on Ocean Terrace in Miami Beach for $28m. Two of the hotels are on adjoining lots. Ocean Surf is a 49-room, three-story hotel that sold for $2.95m in May 2005. The 39-room Hawaii Hotel last traded for $5.2m in May 2008. Both properties were acquired for $16.5 million.
Ocean Blue Surf sold for $11.5m. Built in 1951 the hotel has 39 rooms spread over two floors. It was last sold in September 2006 for $3m. This is the fourth hotel property Claro purchased over the last four months located on Ocean Terrace. This past December, the company bought the Days Inn and Suites for $29.25m.
