The Fontainebleau Miami Beach is owned by Jeffrey Soffer through his privately held company, Fontainebleau Development, which acquired the resort in 2005 and has since invested over $1 billion in transforming the 1,504-room property.1Fontainebleau Development. Jeffrey Soffer Soffer serves as Chairman and CEO of the firm, which is headquartered in Aventura.
Who Jeffrey Soffer Is
Jeffrey Soffer is a South Florida real estate developer and the son of Donald Soffer, who founded Turnberry Associates. For roughly 25 years, Jeffrey and his sister Jackie Soffer ran Turnberry together as co-chairs and co-CEOs. In 2019, the siblings formally split the company. Jeffrey had already been the majority owner of the Fontainebleau Miami Beach, so the separation formalized the existing arrangement and placed the resort under a new standalone company, Fontainebleau Development.1Fontainebleau Development. Jeffrey Soffer
Along with the Miami Beach resort, Jeffrey took sole ownership of the JW Marriott Turnberry Resort and Spa, Turnberry Ocean Club, and the Big Easy Casino in Hallandale Beach. Jackie kept the Turnberry Associates name and its core assets, the Aventura Mall and Town Center Aventura. Both siblings described the split as a way to pursue separate interests rather than a falling-out.
The Big Easy Casino was not technically part of the Turnberry division. Jeffrey had purchased that facility independently in 2018, when it was still called the Mardi Gras Casino, and renamed it. It ended up under Fontainebleau Development once the new company launched.
How the Ownership Is Structured
Fontainebleau Development is a vertically integrated real estate and hospitality group, meaning the same company that owns the land also manages the hotel, staffs it, and directs its capital improvements.2Fontainebleau Development. Fontainebleau Development There is no outside management company running the resort on behalf of an absentee owner. Soffer leads the company as Chairman and CEO, and Brett Mufson serves as President and Partner, handling strategic direction, new development, corporate acquisitions, and financing.3Fontainebleau Development. People – Fontainebleau Development
As with most large commercial real estate in Florida, legal title to the resort is held through one or more limited liability companies rather than in Soffer’s personal name. That is standard asset protection, not a sign of hidden investors.
Because Fontainebleau Development is privately held, it is not subject to the SEC disclosure rules that apply to public companies.4Securities and Exchange Commission. Public Companies Profit margins, internal debt, revenue figures, and the exact terms of any financing on the Miami Beach property are not public. The practical upside is speed: Soffer and Mufson do not need shareholder approval to greenlight a renovation or commit capital to a new amenity.
Who Owned the Resort Before Soffer
The Fontainebleau opened on December 20, 1954, built by hotelier Ben Novack, who had acquired the beachfront site in 1952 and hired architect Morris Lapidus to design it.5Fontainebleau Miami Beach. Timeline – Fontainebleau Miami Beach Novack ran the property for over two decades.
In 1978, real estate developer Stephen Muss purchased the hotel for $27 million and invested another $100 million in renovations over the following years. Muss held the property for more than two decades before selling to Turnberry Associates, which acquired the Fontainebleau in 2005 for $165 million. Jeffrey Soffer then oversaw what the company describes as a monumental $1 billion transformation, expanding the hotel’s footprint and modernizing the guest experience.5Fontainebleau Miami Beach. Timeline – Fontainebleau Miami Beach The resort has changed hands only three times since it opened.
Does Any Outside Investor Own Part of the Miami Resort?
No public information shows an outside equity partner in the Miami Beach property. The confusion usually comes from the Las Vegas side of the business.
In December 2023, Fontainebleau Development opened the Fontainebleau Las Vegas, a $3.7 billion sister resort on the north end of the Strip. That project was built with a $1.8 billion investment from Koch Real Estate Investments, which is listed as a co-owner of the Las Vegas property alongside Fontainebleau Development.6Koch. Koch Real Estate Investments Makes a Bet on the Future of the Fontainebleau Las Vegas The Koch partnership is specific to Las Vegas. The Miami Beach resort remains under Jeffrey Soffer’s sole control through Fontainebleau Development, with no publicly disclosed co-owner or minority partner.