UK’s Reuben Brothers have officially acquired the W South Beach in Miami from Tricap and RFR. The deal is valued at more than $400 million.
David Edelstein (Tricap) and RFR acquired the 3.5-acre property in 2004 and commenced the development of the hotel along with The Residences at W South Beach. The property opened in 2009.
“We are excited to build on the extraordinary success that has already been achieved,” Jamie Reuben, principal at Reuben Brothers, said in a statement. “Our vision is clear: to secure its standing as Miami’s leading global destination, while reimagining its future and delivering an unparalleled luxury experience.”
The transaction was facilitated by Jeffrey Davis, managing director of Eastdil Secured, who served as advisor to the seller.
This acquisition also marks Reuben Brothers’ second significant Florida location, following the purchase of the Chesterfield in Palm Beach, which is set to debut its transformation as The Vineta in early 2025 under the Oetker Collection. Another major Florida asset in which Reuben Brothers have an interest is the JW Marriott Miami Turnberry Resort & Spa, where they acquired a significant minority stake. The Turnberry Isle property in Aventura recently underwent a $300 million renovation. In Puerto Rico, Reuben Brothers and their partners at Three Rules Capital are developing Esencia, a $2.6 billion community on the island’s southwest coast.