Green Touch Builders | KSL Capital Partners doubles its money in $278 million Miami Beach hotel sale
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February 23, 2015 By SEO Admin

KSL Capital Partners doubles its money in $278 million Miami Beach hotel sale

An affiliate of Denver’s KSL Capital Partners is selling a landmark Miami Beach, Florida, hotel in a $278 million deal — more than twice what it paid for it.

Chesapeake Lodging Trust announced it will acquire the 393-room James Royal Palm Hotel. The oceanfront property is owned by RP Hotel Holdings LLC, a company affiliated with private equity firm KSL.

KSL in April 2011 paid $130 million for the hotel. It spent $42 million on renovating the property.

KSL owns luxury hotels and ski areas in…