Miami Beach, FL – August 12, 2013  – CBRE’s Multi-Housing Group and Hotel Group have teamed up to market the Canyon Ranch Hotel and Spa and adjacent Golden Sands Hotel development site, located at 6801 and 6901 Collins Avenue respectively, in Miami Beach. CBRE Vice Chairman Robert Given (Multi-Housing) and CBRE Senior Vice President Christian Charre (Hotels) are marketing the property on behalf of the owners.  

“Miami Beach is currently among the top performing hotel markets in the nation,” said CBRE’s Robert Given. “Barriers to entry are extremely high, due to both the scarcity of land suitable for development and the arduous building approval process. As such, recently marketed beachfront hotel assets have generated intense investor interest.” 
 
“Large, modern, beachfront properties, such as these are rare and very desirable,” added CBRE’s Christian Charre. “Given the strong performance of Miami Beach, the continued low-yield environment, the resurgence of the condominium market, and the generally strong appetite for investment in Miami, we view this as an opportune time to sell.”

The Canyon Ranch Hotel and Spa is a luxury, 150-room condo hotel property located on 750 feet of beachfront in the restored Carillion Hotel, built in the 1950s in the signature “Miami Modern” style. The 0.92-acre Golden Sands development site on 125 feet of beachfront, the former home of another 1950s-era hotel, is vacant and has approvals for construction of 40 units in a 20-story high-rise building.

Since 2003, CBRE’s Multi-housing Group has closed over 300 multi-housing transactions, representing 85,000 units and over $12 billion in real estate assets within Florida. On the hotel front, CBRE has closed 62 transactions in the state of Florida for a total consideration of $850 million. Nationally, in 2012 alone, CBRE Hotels completed $1.3 billion of hospitality transaction volume.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.