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.
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.
A developer has proposed a new hotel for pilots just north of Miami International Airport in Miami Springs. The city’s Planning and Zoning Board was scheduled to review the site plan for the Pilot House Suites by Sucre LLC on the evening of May 28. The proposed development encompasses 1.13 acres of vacant land at 4849 Northwest 36th Street, 673 La Villa Drive, and 640, 656, and 664 Minola Drive.
New York-based hotel owner MCR, under the M2 Miami Airport Blue Lagoon, LLC, has unveiled plans for two new hotels adjacent to its Hilton Miami Airport Blue Lagoon. The proposal filed as a pre-application with Miami-Dade County officials concerns the 20.6-acre property at 5101 Blue Lagoon Drive, which currently hosts the 14-story, 508-room hotel developed on the waterfront site in 1983.
Updated renderings have been revealed via a warrant and waiver application for a proposed 10-story hotel at 160 Northwest 28th Street in Wynwood, Miami. Designed by MKDA and developed by a joint venture between Robert Finvarb Companies and Hidrock Realty, the 121-foot-tall structure would yield a total floor area of 74,498 square feet. This includes 38,096 square feet of net hotel space with 116 rooms, 5,908 square feet of indoor and outdoor amenity space, including the lobby, 2,225 square feet of retail space, and 31 parking spaces. The Wynwood Design Review Committee is scheduled to review the application on May 7.
