South Street Partners Acquires Solé Miami on Sunny Isles Beach

South Street Partners, a prominent private equity real estate investment firm, has acquired Solé Miami, a beachfront resort located in Sunny Isles Beach, Florida, for an undisclosed amount. This transaction, finalized in May 2026, adds a 249-key full-service condominium hotel to South Street's growing hospitality portfolio, which focuses on high-growth markets in the Southeastern United States.

Solé Miami is situated in the exclusive Sunny Isles Beach area, often referred to as Florida's Riviera, known for its upscale high-rise condominiums, fine dining, and proximity to popular attractions such as South Beach and Bal Harbour. The resort features modern amenities, including five indoor and four outdoor meeting venues, multiple dining options, and direct beach access, making it a desirable destination for both leisure and business travelers. The property is currently managed by Noble House Resorts, which is recognized for its collection of luxury hotels and resorts across North America.

The acquisition aligns with South Street Partners' strategy to enhance its hospitality offerings in coastal markets. The firm has expressed intentions to invest significantly in upgrading guest rooms and common areas at Solé Miami, aiming to elevate the overall guest experience. This focus on capital improvements reflects a broader trend in the hospitality sector, where operators are increasingly investing in property enhancements to attract discerning travelers and compete in a crowded market.

The Sunny Isles Beach sub-market is noted for its strong growth potential, particularly in revenue per available room (RevPAR), making it an attractive target for investment. South Street's Principal, Peter Lunenburg, emphasized the firm's confidence in the long-term strength of beachfront resort real estate, suggesting that the acquisition of Solé Miami will not only bolster their portfolio but also enhance the overall value of the property through strategic upgrades.

As the hospitality sector continues to rebound from the impacts of the pandemic, acquisitions like that of Solé Miami by South Street Partners indicate a positive outlook for the market. Investors are increasingly recognizing the value of well-located properties in desirable destinations, particularly those that can be enhanced through targeted investments. This trend is likely to drive further consolidation in the sector, as firms seek to capitalize on growth opportunities in high-demand areas.