A company tied to the hospitality company Choice Hotels purchased a three-property plot in the Brickell area for $9.5 million.
The company, CS Brickell, acquired three small apartment buildings at 145, 155, and 165 Southwest 12th Street. There was no financing recorded for the purchase.
Brickell Park, LLC., based out of Coconut Grove, was the seller. They paid $2.5 million for the three buildings back in October of 2006.
Choice Hotels is a hospitality holding company being publicly traded on the New York Stock Exchange. It has over 6,300 hotels franchised, with over 500,000 rooms in over 30 countries. Choice Hotels boasts many popular brands, such as Cambria Suites, Comfort Inn, and Sleep Inn.
The initials in the purchasing company's name, CS Brickell, could possibly stand for Cambria Suites, the hotel brand they may choose to develop on the site.
Source: therealdeal.com
Photo credit: Cambria Suites - bizbeatblog.dallasnews.com, Choice Hotels Logo - wikipedia.org, Three Buildings - google, Map - google