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**Sheraton Miami Airport Hotel Sold for $67.5 Million**
HHM Hotels has sold the Sheraton Miami Airport Hotel for $67.5 million. The 405-room property, located at 3900 N.W. 21st Street near Miami International Airport, was acquired by Bridgeton Holdings.
According to the South Florida Business Journal, the acquisition was financed with a $59.25 million mortgage provided by Argentic Real Estate Investment 2. HHM Hotels previously invested $10 million in a full-scale renovation of the hotel in 2017.
Built in 1976 and expanded in 2000, the Sheraton Miami Airport Hotel spans 330,942 square feet across ten stories on a 4.8-acre site. The property features a variety of amenities, including the Rickenbacker Restaurant, Mbark Restaurant & Bar, a swimming pool, fitness center, and 16,026 square feet of event space.
The hotel previously sold for $42.32 million in 2015, marking a significant increase in value. It is strategically positioned just north of the developing Miami Freedom Park, the future home of the Inter Miami CF soccer stadium.
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