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Members of Qatar's ruling royal family, the Al Thanis, sold the SLS Brickell hotel in Miami for $55 million.
According to foreign media, the property was purchased by the Albanian conglomerate Kastrati Group. Kastrati, through an entity that lists Miami attorney Charles Ratner as its president, bought the 124-key hotel at 1300 South Miami Avenue in Miami's Brickell neighborhood. The deal works out to about $444,000 per room.
This acquisition is the first in the US for Kastratin, led by Shefqet Kastratin. The Albanian firm has holdings in oil and fuel, insurance, construction, infrastructure and more.
Ratner has represented high-profile clients in Miami and Miami Beach in recent years, including real estate investor and former Miami Beach Mayor Philip Levine and Michael Simkins, who runs Lion Development Group.
In 2018, an entity linked to Al Thanis paid $43 million for the SLS Brickell hotel. The seller was the project's developer, Coconut Grove-based Related Group, records show. Sheikh Tamim bin Hamad Al Thani is the Emir of Qatar.
The 54-story mixed-use tower was designed by French architect Philippe Starck and Miami-based Arquitectonica in 2016. The hotel component includes 58,000 square feet of indoor and outdoor event space, two ground-floor restaurants, three bars and lounges, a rooftop pool terrace and two ballrooms. The hotel is managed by Accor Hotels, a French hospitality company.
In April, Karp also brokered the sale of an SLS Brickell restaurant space on behalf of Al Thanis. Robert Rivani's Black Lion Investment Group paid $10 million for the commercial unit that was formerly home to celebrity chef Jose Andres, Bazaar Mar.
Also opened some time later was the nearby SLS Lux Brickell Hotel & Residences at 805 South Miami Avenue
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