CGI Merchant Group has bought the boutique 56-room Casa Moderna hotel, part of the Marquis Residences tower in Miami. CGI's $37.5 million purchase also includes 14 townhomes, a parking garage and 5,700 square feet of retail space on the lower 15 floors of the building. The new owner said it plans to renovate and rebrand the hotel as a 129-room property by converting the townhomes into suites.

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