Key Takeaways
- • South Street Partners, a Charlotte and Charleston-based private equity real estate firm, has acquired Solé Miami, a 249-key full-service oceanfront condominium hotel in Sunny Isles Beach, Florida, according to a PR Newswire release.
- • The Resort is managed by Noble House Hotels & Resorts, a family-owned operator of 30 luxury properties across North America and Mexico, which will continue in that role.
- • South Street plans capital improvements, beginning with guest room and common area upgrades, to elevate the Resort's offerings.
- • South Street describes the deal as reflecting conviction in coastal and beachfront resort real estate, citing Sunny Isles as one of the highest-growth RePAR markets in Florida.
- • The acquisition extends South Street's South Florida hospitality portfolio, which the firm says has deployed over $1.7 billion of equity and manages more than $3 billion in assets.
Summary
South Street Partners has acquired Solé Miami, a 249-key full-service condominium hotel on the oceanfront in Sunny Isles Beach, Florida, according to a PR Newswire announcement dated May 26, 2026. South Street describes itself as a private equity real estate investment and development firm headquartered in Charlotte, North Carolina and Charleston, South Carolina. The company says it was founded in 2009 and, on behalf of its SSP GP Funds, institutional joint venture partners and co-investment vehicles, has deployed over $1.7 billion of equity across resort, residential and commercial properties and manages more than $3 billion in assets under management. The firm's portfolio of private residential club and resort communities includes Kiawah Island, Palmetto Bluff, The Cliffs, Barnsley Resort, PGA National Resort and The Arizona Biltmore, among others.
The Resort is managed and operated by Noble House Hotels & Resorts, a family-owned collection of 30 luxury hotels and resorts across North America and Mexico, headquartered in Seattle. According to the release, the property offers five indoor and four outdoor meeting venues, four on-site food and beverage outlets and a market, a fitness center with steam room and sauna, an oceanfront pool, private beach service and dune dining. Sunny Isles Beach, often referred to as Florida's Riviera, is positioned between South Beach, Bal Harbour and Aventura.
South Street Principal Peter Lunenburg said the acquisition reflects the firm's "continued conviction in the long-term strength of coastal and beachfront resort real estate," and characterized the Sunny Isles sub-market as "one of the highest growth RePAR markets in Florida." South Street plans to significantly elevate the Resort, beginning with guest room and common area upgrades followed by additional improvements. Sean Mullen, President of Acquisitions, Sales & Revenue Management at Noble House, said the resort has a "strong foundation" and that the partnership aims to create "an even more vibrant and experience-driven future for guests and team members." The release did not disclose the purchase price.
The Resort is managed and operated by Noble House Hotels & Resorts, a family-owned collection of 30 luxury hotels and resorts across North America and Mexico, headquartered in Seattle. According to the release, the property offers five indoor and four outdoor meeting venues, four on-site food and beverage outlets and a market, a fitness center with steam room and sauna, an oceanfront pool, private beach service and dune dining. Sunny Isles Beach, often referred to as Florida's Riviera, is positioned between South Beach, Bal Harbour and Aventura.
South Street Principal Peter Lunenburg said the acquisition reflects the firm's "continued conviction in the long-term strength of coastal and beachfront resort real estate," and characterized the Sunny Isles sub-market as "one of the highest growth RePAR markets in Florida." South Street plans to significantly elevate the Resort, beginning with guest room and common area upgrades followed by additional improvements. Sean Mullen, President of Acquisitions, Sales & Revenue Management at Noble House, said the resort has a "strong foundation" and that the partnership aims to create "an even more vibrant and experience-driven future for guests and team members." The release did not disclose the purchase price.
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