A dual-branded, twin tower hotel coming to Brickell received a $67 million construction loan. Expected by mid-2021, its developer said it will be targeted to extended-stay guests and positioned slightly below neighboring luxury hotels the Mandarin Oriental and JW Marriott Marquis.
City National Bank of Florida endorsed a home loan to C-F Brickell Owner LLC, with an individual assurance from Robert I Finvarb, as indicated by the South Florida Business Journal. Summit Hotel Properties additionally has allowed a $28.85 million mezzanine advance to Finvarb for the task, giving a sum of $95.85 million in credits.
Finvarb of Robert Finvarb Companies will remain the proprietor and administrator of the blended brand lodging spreading over 28,866 square feet flanked by 115 S.W. eighth Street, 726 S.W. first Court and 110 S.W. seventh Street in the Brickell area. It will be the engineer’s seventh lodging in Miami.
The site was recently involved by El Eden motel. It shut in 2017 after Finvarb purchased the land for $18.4 million and was obliterated in 2018. The towers are west of Brickell City Center and north of the Brickell Metrorail, and fringe the Underline, the direct park running beneath the Metrorail stations.