Kerzner, 13th Floor plan first Siro hotel in the US in Brickell

Arnaud Karsenti’s 13th Floor Investments is partnering with a Dubai-based hospitality firm to develop the first Siro hotel in the U.S. in Miami’s Brickell.

13th Floor and Ian Ludmir’s Forse Holdings, both based in Miami, are the local partners of Kerzner International’s planned Siro Brickell, Miami tower. It will consist of 180 hotel rooms and suites, as well as 350 Siro-branded condos, according to a 13th Floor news release.

Kerzner, the Dubai firm, bought the nearly 1-acre development site at Brickell City Centre in August for $45 million. The property is at 9 Southeast Sixth Street in Miami.

Kerzner created the Siro brand as part of its hotel portfolio last year. The hotels have a focus on health and wellness, including on reducing jetlag and promoting sleep, the release says. Siro hotels also have fitness facilities and customizable nutritional offerings.

Siro Brickell is expected to open in 2030, according to the release. It will mark the sixth Siro hotel, including those Kerzner opened and plans. On tap are Siro Palmilla in Los Cabos, Mexico, expected to open in 2027; SIRO Olaya in Riyadh, Saudi Arabia, expected to open in 2028; and SIRO Roponghi in Tokyo, expected to open in 2029. Already open are Siro One Za’abeel in Dubai and Siro Boka Place in Montenegro, according to the release.

Led by Philippe Zuber, Kerzner’s other brands include Atlantis Resorts, One&Only and Rare Finds. The firm was founded in 1993 by late South African business tycoon Solomon ‘Sol’ Kerzner.

Swire Properties, the real estate arm of Hong Kong-based Swire, developed the Brickell City Centre mixed-use complex, completing it in 2016, and sold the Siro development site to Kerzner.

The deal was part of Swire’s divestment in recent months from its remaining Brickell City Centre holdings. In May, Swire sold the 2.8-acre development site where it had planned an office supertall to Melo Group for $211.5 million, after canceling the project. Swire also sold its remaining stake in Brickell City Centre’s retail and parking to Simon Property Group for $512 million in June.

Brickell became South Florida’s darling market in recent years, attracting new-to-market office leases, as well as commercial and residential development.

More recently, higher interest rates and fewer out-of-state businesses and residents have slowed the South Florida boom. Generally, all-cash buyers have remained active, and some projects are pending.

Spanish billionaire Amancio Ortega, founder of the Inditex holding company, is expected to purchase the Sabadell Financial Center office tower at 1111 Brickell Avenue for $275 million. Ortega, who makes real estate investments through his Ponte Gadea firm, is known for making all-cash purchases.

Last month, funds affiliated with Blackstone bought the East Miami hotel, which is at Brickell City Centre, for nearly $300 million from funds managed by Trinity Investments and Certares.

Planned projects in Brickell include Yamal Yidios’ Ytech firm’s proposed 54-story, 113-unit condo tower at 41 and 75 Broadway; and Chilean developer Claudio Fischer’s proposed 41-story, 544-unit residential tower on the former Mexican Consulate site in Miami’s Brickell.

Also in Brickell, 13th Floor and the Ardid family’s Miami-based Key International want to develop an 80-story condo tower behind First Miami Presbyterian Church at 609 Brickell Avenue. The project would replace the church’s parking lot and school building, while the church itself will remain intact.

Residential

South Florida

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