BGI Capital Arranges $27.5 Million Construction Loan For Holiday Inn In Edgewater

Nov 06, 2019 No Comments by

South Florida-based commercial real estate lending firm BGI Capital announced the closing of a $27.5 million construction loan with Edgewater Hotel Management.

The firm structured the loan with a local lender to complete the development of a Holiday Inn by IHG located in the up and coming area of Edgewater. The eight story hotel, located at 414 NE 36th Street, will feature 207 rooms and approximately 3,000 square feet of retail located on the ground floor. Construction is slated for completion in the summer of 2020.

 

“At BGI Capital, we pride ourselves in devising tailored lending solutions and support for our clients who are seeking to build signature projects that enhance growth in up and coming communities such as Edgewater,” said Robert Barthelmess, managing partner at BGI Capital. “We are thrilled to assist our clients with solutions to their financing needs and are certain the hotel will be a significant addition to the area.”

The momentous evolution of Edgewater is resulting in the transformation of the area into a regional epicenter for Miami’s urban core. The success of adjacent neighborhoods such as Wynwood and the Design District have created significant retail presence, culinary experiences, art, culture and creative businesses in these districts.  Demand for hospitality assets have been steadily increasing within the area as residents in these and neighboring areas such as Midtown, Brickell and the Biscayne corridor have truly created a live, work, play destination. Strategically located minutes from these neighborhoods and near the entrance of the Julia Tuttle Causeway, which leads to Miami Beach, The Holiday Inn presents an ideal hospitality presence poised for success.

 

“We see great demand for a quality hotel in this location,” said Amaury Martinez of Edgewater Hotel Management. “The team at BGI Capital really supported our vision for this project and we are looking forward to bringing this hotel to market and becoming a big part of this growing vibrant area.”

 

 

————————-

Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.

CLICK HERE TO SUBSCRIBE TODAY!

 

 

Go Ahead...Share!
  • email
  • Print
  • LinkedIn
  • Twitter
  • Facebook
  • Google Bookmarks
  • RSS
  • Add to favorites
Hospitality, Industry News, NA
No Responses to “BGI Capital Arranges $27.5 Million Construction Loan For Holiday Inn In Edgewater”

Leave a Reply