According to the Commercial Observer, The Reuben brothers are set to expand their South Florida real estate portfolio with the W South Beach hotel in Miami Beach.

The British real estate moguls are in advanced talks to buy a majority stake in the luxury hotel, according to a source with knowledge of the negotiations. The recap deal — which has yet to close — would value the oceanfront property at over $400 million.

The property was a collaboration between design architect Costas Kondylis and Nichols Architects team, who brought our vision and South Florida hospitality expertise to the design and construction of the hotel.