South Street Partners Expands Florida Portfolio with Solé Miami Acquisition

South Street Partners, a Charlotte and Charleston-based private equity real estate firm, has acquired Solé Miami, a 249-key oceanfront condominium resort in Sunny Isles Beach, Florida. The property will continue operating under management by Noble House Resorts.

Property Details

Solé Miami sits on Miami's northernmost beach and features ocean and city views across all guest rooms and suites. The resort includes five indoor and four outdoor meeting spaces, four on-site food and beverage outlets, a fitness center with steam room and sauna, oceanfront pool and beach access, and private beach service.

The property also offers oceanfront dining at BALEENkitchen and hosts meetings, celebrations, and destination weddings.

Investment Rationale

Peter Lunenburg, Principal of South Street Partners, said: "We are pleased to be adding Solé to our South Florida hospitality portfolio, representing our continued conviction in the long-term strength of coastal and beachfront resort real estate. The Sunny Isles sub-market of Miami Beach is an attractive target for South Street, representing one of the highest growth RePAR markets in Florida and we are confident that we can deliver exceptional experiences for our guests through continued capital improvement of the asset."

South Street plans to undertake guest room and common area upgrades, along with additional property improvements.

Operator Perspective

Sean Mullen, President of Acquisitions, Sales & Revenue Management for Noble House Hotels & Resorts, commented: "Solé Miami represents an exciting opportunity to further elevate one of South Florida's most naturally compelling beachfront destinations. Together with South Street Partners, we look forward to building on the resort's strong foundation while creating an even more vibrant and experience-driven future for guests and team members alike."

Company Background

South Street Partners manages over $3 billion in assets and has deployed more than $1.7 billion in equity across resort, residential, and commercial properties. The firm's portfolio includes Kiawah Island, Palmetto Bluff, The Cliffs, Barnsley Resort, PGA National Resort, Naples Grande, The Arizona Biltmore, and other high-profile resort destinations in the Southeast and Sunbelt.

Noble House Hotels & Resorts operates a family-owned collection of 30 luxury hotels, resorts, and experiences across North America and Mexico. The company was named one of Travel + Leisure's Top 25 Hotel Brands in 2024 and 2025.

Why It Matters

The acquisition signals continued institutional capital flowing into South Florida's beachfront hospitality market, particularly in secondary coastal markets like Sunny Isles Beach. For operators, the deal underscores strong demand for full-service resort assets with direct beach access and diverse revenue streams—amenities increasingly central to post-pandemic hospitality valuations.

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Written by FBM Publications Editors