AIDS Health Foundation drops $24M for Miami Gardens hotel in all-cash deal

In an all-cash deal, a Los Angeles-based organization that provides affordable housing to individuals diagnosed with HIV and AIDS bought an aging Miami Gardens hotel for $24 million.  AIDS Healthcare Foundation, led by president Michael Weinstein, acquired Stadium Hotel, a 217-room building at 21485 Northwest 27th Avenue completed in 1973, records show. The deal breaks down to $110,644 per room.  Ryan Shaw with Marcus & Millichap represented the buyer. Suraj Dalal and Ahmed Kabani with Kabani Hotel Group represented the seller, an entity managed by David and William Ross in Miami Gardens, a press release states.  The Ross entity paid […]This article originally appeared on The Real Deal. Click here to read the full story.