Extended Stay Hotel Projects Evolving in Jacksonville and Palm Springs, FL
Florida YIMBY has learned of various projects that plan to bring extended stay hotels in Jacksonville and Palm Springs.
Florida YIMBY has learned of various projects that plan to bring extended stay hotels in Jacksonville and Palm Springs.
Developer 745 James LLC has secured a $21.5 million construction loan for a boutique hotel in Miami-Dade County. Sanctuary Hotel would measure five stories above grade and offer 90 rooms, occupying the former site of Sanctuary South Beach Condo.
Keyah Real Estate Group, led by Xaver Kriechbaum and Gavin Crescenzo, has acquired a mixed-use property in Miami Beach for $20 million with plans to develop a seven-story, 238-key hotel on Washington Avenue. The project, designed by Miami-based Arquitectonica, involves demolishing the existing single-story retail building and a 13-unit apartment building at 1509 and 1515 Washington Avenue.
Two buildings comprising 120 units have opened at Embassy Suites by Hilton Orlando Sunset Walk in Kissimmee. The project offers a unique hotel concept where investors can “become mini franchisees” of the Embassy Suites brand.
Driftwood Capital has provided $34.8 million in mezzanine financing for refinancing Miami Airport Marriott Connection, a Marriott-branded complex with three hotels near Miami International Airport. The financing was provided through Driftwood Lending Partners, LP (DLP), to an affiliate of Cerberus Capital Management and Highgate. Driftwood originated the two-year loan with three one-year extension options at a competitive interest rate.