sbe Entertainment Group and CIM Group Sell SLS South Beach to Goldenpeaks Capital Real Estate

sbe | June 11, 2015

LOS ANGELES, June 11, 2015 -- sbe, the Los Angeles-based creative hospitality company, and CIM Group, a leading real estate fund manager, announced today the sale of the SLS South Beach hotel to GoldenPeaks Capital Real Estate, an international real estate industry management company. The sale price was not disclosed. The deal underscores sbe's newly implemented growth strategy of focusing on long-term management agreements, and follows the recent sale of SLS Beverly Hills. sbe and CIM, partners in the South Beach venture, have sold the hotel as the Miami market continues to heat up. As part of the sale, sbe will continue to operate the...