Starwood Hotels and Resorts Worldwide has sold one of South Florida’s premier properties. Al Rayyan Tourism Investment Company (“ARTIC”) has acquired the St. Regis Bal Harbour Resort for $213 million. ARTIC develops, acquires, and leases real estate, primarily in the hospitality sector. ARTIC focuses on the acquisition of world-class assets in prime locations and is aiming to create an international portfolio of luxury hotels and resorts. In light of its mission, it isn’t a surprise that ARTIC snatched up this South Florida treasure.
The Village of Bal Harbour, where St. Regis is located, epitomizes prestige and paradise. St. Regis is on Collins Avenue right across from the high-end Bal Harbour Shops. It offers serenity and scenic views, but it isn’t far from the excitement and hustle and bustle of Miami Beach. It has private residences and condo-hotel units, as well as three restaurants, a spa, two ocean view pools, and plenty of beautiful indoor and outdoor space for special events. The meticulous property is surrounded by other upscale Bal Harbour condos. This is a community worth checking out, and it has to be soon because these properties are selling quickly!