Paul Singer’s Elliott Management Buys Coconut Grove Hotel
ACORE Capital provided $79 million for the acquisition in the Miami enclave
By Julia Echikson June 12, 2026 1:45 pm
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Paul Singer’s Elliott Management bought a hotel in Miami’s Coconut Grove neighborhood from Brookfield Asset Management, records show.
Called the Mayfair House Hotel & Garden, the property was built in 1982 and includes 180 rooms at 3000 Florida Avenue, adjacent to Virginia Street.
A deed filed in Miami-Dade County lists the sale price at $69.4 million. However, Acore Capital provided a $79 million loan to the West Palm Beach-based buyer, suggesting funding for renovations could be included, or that the recorded price may be higher with the deed amount excluding the property’s furniture and operating assets.
Brookfield Asset Management purchased the hotel for about $40 million in 2019, The Real Deal reported.
In recent years, Elliott Management, which made a name for itself as a bare-knuckle activist investor, has stepped up its real estate holdings. In 2024, the hedge fund paid $450 million for the 32-story 701 Brickell office building. That same year, it also bought 230-room Gates Hotel South Beach.
The firm is also a backer of Adi Chugh’s Tyko Capital, which has emerged as a major source of funding for uxury projects across the country, including one in Coconut Grove. Earlier this year, the lender provided a $410 million construction loan for Terra’s 194-unit boutique condo development.
Representatives for Elliott Management and Brookfield Asset Management did not immediately provide comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
