Blackstone Acquires EAST Miami Hotel at Brickell City Centre

Miami’s hospitality market scored another major deal today with news that Blackstone Real Estate has acquired the EAST Miami hotel from Trinity Investments and Certares Real Estate Management. The 352-key property, which includes 89 serviced apartments, is the flagship hotel at Brickell City Centre, the $1.1 billion mixed-use development that has helped transform the heart of Miami’s financial district. Since opening in 2016, EAST Miami has become known for its sleek guestrooms, residences, and its iconic rooftop bar, Sugar, a staple of the city’s nightlife scene.

Trinity and Certares purchased the property in 2021 from Swire Properties for approximately $174 million. Deed records reflected a base price of $120.3 million, with the higher figure likely including furniture and fixtures. Under their ownership, the joint venture implemented operational and management enhancements that significantly boosted the hotel’s financial performance. Within the first full year, net operating income jumped by more than 60 percent, showcasing the strength of Miami’s hospitality rebound and their ability to reposition high-quality lifestyle assets. The sale also represents the first fully realized asset by Trinity GP Fund I, L.P., marking an important milestone for the firm.

For Blackstone, the deal underscores its growing conviction in the Miami market. Scott Trebilco, Senior Managing Director at Blackstone Real Estate, highlighted the neighborhood’s transformation, driven by strong population and employment growth as well as booming leisure and entertainment demand. The acquisition aligns with Blackstone’s broader South Florida strategy, which includes ownership of the W Hotel Fort Lauderdale and a recent $300 million loan to support renovations at the Ritz-Carlton Key Biscayne.

The acquisition of EAST Miami not only strengthens Blackstone’s foothold in the region but also reflects the rising prominence of Brickell as a global business and lifestyle hub. What was once a strictly financial district is now a dynamic neighborhood attracting international investors, luxury retailers, and world-class hospitality brands. By securing one of its crown-jewel hotels, Blackstone has placed a strong bet on the continued growth and appeal of Miami’s hospitality sector.