Paul Singer’s Elliott Management Buys Coconut Grove Hotel for $110M: Updated
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.
Called the Mayfair House Hotel & Garden, the property was built in 1982 and includes 180 rooms at 3000 Florida Avenue, adjacent to Virginia Street. The hotel traded for roughly $110 million, according to a representative for Brookfield, which had purchased the asset for about $40 million in 2019, The Real Deal reported.
A recent deed filed in Miami-Dade County lists the sale price at $69.4 million, which likely only included the value of the real estate and excluded the property’s furniture and operating assets. Acore Capital provided a $79 million loan to the West Palm Beach-based buyer.
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 did not immediately provide comment.
Updated: The story was updated to include the $110 million sale figure.
Julia Echikson can be reached at jechikson@commercialobserver.com.
