A group pocketed the Conrad Miami, a 203-room hotel inside the iconic Brickell Arch Tower on Miami's Brickell Avenue.

A joint venture between Miami-based Mast Capital, an investment and development firm, and Angelo, Gordon & Co., a private investment adviser headquartered in New York, acquired the hotel component of the high-rise tower for $72 million.

Formerly known as the Espirito Santo Plaza, the teal glass building with a striking deep arch at its center is composed of offices, hotel rooms and residential units.

"This property is extremely complicated," said Christian Charre, who marketed the asset with Paul Weimer and Natalie Castillo of CBRE Inc.'s hotel division. "There's a hotel sandwiched between the office portion of the building and the residential units."

The Brickell Arch Tower at 1395 Brickell Ave. offers 267,000 square feet of Class A office space, 203 hotel rooms and 116 luxury condominium units.

The joint venture acquired the hotel rooms as well as a rooftop amenity deck and a 41-unit condo rental program.

"This property was extremely compelling because of its prominent location on Brickell Avenue and world-class architectural design," said Mast Capital CEO Camilo Miguel Jr. "It is exciting to have the opportunity to fully realize the potential of the property. We are confident that the Conrad brand's concept of smart luxury will be favored by guests and residents for years to come."

Charre said the sale, which closed Thursday, demonstrates long-term confidence in Miami-Dade County's hospitality sector, which suffered notable hits last year, primarily from the Zika virus outbreak.

Bilzin Sumberg partner Suzanne Amaducci-Adams and associate Alex Roitman represented the seller, Holborn LC, in what Amaducci-Adams described as a complex transaction that benefitted from having sophisticated counsel on both sides.

It helped that the firm had history with the property: Bilzin Sumberg partner Jim Shindell arranged the sale of its office portion for $142 million in 2015.

"This was one of the first mixed-use, high-rise buildings on Brickell, so the nature of the building itself is very complicated," Amaducci-Adams said, noting the original subdivision between the hotel and office pieces of the property were hastily done.

The legal team had to make sure each component of the tower could stand on its own.

"Without a very sophisticated law firm like Greenberg Traurg on the other side, it would've been difficult to accomplish," she said.