Reuben Brothers has announced the acquisition of the W South Beach hotel, in a deal valued at more than $400m, as reported by Bloomberg.

Led by David and Simon Reuben, the company purchased the Miami-area property from Tricap and RFR. This deal comprises 348 hotels, along with condo units.

The acquisition is part of Reuben Brothers' investment strategy across the commercial real estate sector, which includes residential and retail properties. 

In 2022, the company acquired the Chesterfield Hotel in Palm Beach, set to reopen early next year as the Vineta. It also holds a stake in the JW Marriott Miami Turnberry Resort & Spa.

Furthering its presence in the luxury real estate market, Reuben Brothers is developing the $2.6bn Esencia community in Puerto Rico.

The project will feature five luxury hotels, with brands such as the Rosewood Hotels & Resorts and Mandarin Oriental Hotel Group.

Reuben Brothers principal Jamie Reuben said: “Our vision is clear: to secure its standing as Miami’s leading global destination while reimagining its future and delivering an unparalleled luxury experience.” 

The transaction for the W South Beach was facilitated by advisors Jeffrey Davis of Eastdil Secured and Doug Harmon of Newmark Group. Meanwhile, representatives for RFR and Tricap have chosen not to comment on the matter. 

In related news, The Surrey, a Corinthia Hotel, has recently opened in New York City's Upper East Side, adding to the Reuben Brothers' collection of properties.  

The 16-storey hotel, featuring 70 guest rooms, 30 suites, and 14 private residences, showcases the interior design work of Martin Brudnizki of MBDS.