JV plans to renovate pool deck, bring in new food and beverage concepts
A joint venture between The Allen Morris Company and Stormont Hospitality partnered with Black Salmon to buy a boutique hotel in Miami Beach, the second in a series of planned purchases together.
AMS Hospitality Group and Black Salmon paid $25.5 million for Circa 39, a 97-key hotel at 3900 Collins Avenue, according to a press release. The Art Deco-style property includes two buildings and a surface parking lot across the street.
Records show ThirtyNine Collins LLC, led by Kent Janzon, co-owner of The Palms Hotel & Spa, sold Circa 39.
The price breaks down to $263,000 per key. Host Hotels holds the per-room record in Miami-Dade County. It paid $1.42 million per key for the 1 Hotel South Beach in 2019.
The two companies plan to spend $300 million acquiring hotels and other hospitality properties. Their first purchase together was in December when they acquired the Pelham Hotel New Orleans.