Miami Beach Timeshare Resort Sold for $73M in Record-Breaking Deal

13th Floor Investments and Opera Acquisitions have jointly purchased the Westgate South Beach Oceanfront Resort, a Miami Beach timeshare resort, for $73 million. The acquisition completes a 1.3-acre assemblage, as 13th Floor and Opera already own the neighboring property. The deal involved negotiating with over a hundred individual condo unit and timeshare owners over a period of two and a half years. The redevelopment plans for the properties have not yet been finalized. 13th Floor Investments is known for its active real estate development projects in South Florida.