Keyah Lands $38M to Reposition Miami Beach Hotel Into a Starwood Brand

Keyah Real Estate Group has nabbed $38 million to reposition a Miami Beach hotel, which will be branded after Starwood’s Treehouse Hotels, property records show. 

The adaptive reuse project will combine hotels that date back to the 1940s: the former Haddon Hall Hotel at 1500 Collins Avenue and the Campton Apartments at 1509 and 1515 Washington Avenue in South Beach’s Art Deco district.

Maxim Credit Group provided the financing, increasing a $15 million loan issued in 2024 by $23 million. 

The Aventura-based developer purchased the hotels, which sit on a 1.8-acre site, this year for an undisclosed amount. Last year, Miami Beach officials approved plans to combine the properties into a 262-room hotel, which is expected to open in 2029.

“By reimagining these historic buildings through a modern lens, the property creates an experience that respects Miami Beach’s architectural heritage while still feeling fresh, relaxed, and unmistakably Treehouse,” Raul Leal, CEO of Starwood Hotels, said in a statement. 

The endeavor marks the first Miami Beach project since Barry Sternlich’s Starwood Capital Group regained the rights to the Starwood Hotels brand last year, after a decade under the ownership of Marriott International. Besides the Treehouse name, the entity includes 1 Hotels and Baccarat brands.

The financing comes as another hotel on Washington Avenue has struggled. Following a $205 million foreclosure judgment in May, CIM Group gained control of the 266-room Goodtime Hotel last week with a paltry $100 bid, The Real Deal reported. 

A representative for Keyah Real Estate Group did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.