Pebb Capital and LeaseFlorida have sold the Hampton by Hilton at The Continental in Miami Beach, Florida for $43.90 million. The sale closed on June 15 to a privately held LLC. The JV renovated the historic structure in 2016 for $25 million. This deal is a record for the Hampton flag, marking the second-highest price per key in the brand’s portfolio and is significant for the area.
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Kadir Tokman, Civic Construction; Edgardo Defortuna, CEO of Fortune International Group; Kasim Badak, CEO of Okan Group; Murat Gülen, Board of Directors of Okan Group; Ibrahim Fesli, Board of Directors of Okan Group; Commissioner Ken Russell; Isil Okan Gulen, Okan Group; City of Miami Mayor Francis X. Suarez; Former Prime Minister of Turkey Binali Yildrim; Bekir Okan, Chairman of the Board of Directors of Okan Group; Turkish Ambassador to the United States Murat Mercan; Ozkan Okan, Okan Group; Robert Behar, Behar Font & Partners; William J. Read, Civic Construction.
Okan Tower Anchored By Hilton Hotel Breaks Ground In Downtown Miami
Okan Tower, the new Downtown Miami megaplex, with residences anchored by a Hilton Hotel, broke ground on Friday, June 17 with all the fanfare of a major international milestone, attended by a who’s who of the business, political, civic, hospitality and real estate brokerage community. Okan Tower represents the largest Turkish investment in the United States with a design inspired by the country’s native flower, the tulip.
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Hyatt and Gencom Propose Arquitectonica-Designed Mixed-Use Redevelopment To Activate Downtown Miami Riverfront
Hyatt has teamed up with Miami-based luxury hospitality and residential developer Gencom, with the goal of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, improving access in and out of the urban core, and activating a key piece of Miami’s riverfront. The Hyatt and Gencom venture is proposing a privately funded redevelopment that will comprise a reimagined upscale Hyatt Regency hotel.
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Owner Of The Versace Mansion Acquires 1930's Era Miami Beach Boutique Hotel For $6 Million
The Nakash family, owner of several Art Deco hotels and South Beach’s former Versace Mansion, has acquired a 1930’s era boutique hotel located at 1350 Collins Ave. in Miami Beach. Renowned architect Wallace Tutt, who designed the Versace Mansion a few blocks away, also designed the building’s three villas.
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Okan Tower Unveils Loft Penthouse Collection As Development Nears Groundbreaking In Downtown Miami
Okan Tower, which is set to become one of the tallest towers in Downtown Miami, has unveiled its exclusive Loft Penthouse Collection. Rising 902’ in the air, the 70-story project’s highly-anticipated Loft Penthouse Collection consists of 14 impressive residences soaring above downtown Miami at the building’s peak.
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Urbanica Sells Meridian Hotel To Miami-Based Investment Firm
The Urbanica Meridian Hotel, located at 418 Meridian Ave on Miami Beach was recently sold by Urbanica, the group responsible for facilitating the revitalization of the dwindling Fifth Street Corridor through their development of staple lodging, food, and beverage establishments. The hotel sold to Miami-based investment firm, Cambridge Lansdowne, for $30.5 million.
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Fort Partners Pays Off $210 Million Construction Loan at Four Seasons Fort Lauderdale
Miami-based development firm Fort Partners has today announced that the $210 million construction loan for the Kobi Karp-designed Four Seasons Hotel and Private Residences Fort Lauderdale has been paid off. The loan, financed by Madison Realty Capital, became the largest residential construction loan in Fort Lauderdale history when it closed in 2019.
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PROFILE Exclusive Podcast Season 1 Episode 9 Featuring Jacques Bessoudo of Galium Capital
Season 1 Episode 9 of the PROFILE Exclusive Podcast by PROFILEmiami features Jacques Bessoudo of Galium Capital. Jacques serves as Managing Partner of Galium Capital, a Miami-based private equity group which he founded in 2018 and currently has over $600 million of commercial real estate under management.
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Jake Paul and Logan Paul Revealed As Purchasers Behind E11EVEN Residences Beyond Penthouses Asking $20.5 Million Each
Jake and Logan Paul have been revealed as the purchasers of two penthouses atop the planned E11EVEN Residences Beyond condo tower in Downtown Miami. Jake Paul and Logan Paul are social media and YouTube personalities who turned into professional boxers.
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MV Real Estate Holdings and Driftwood Capital Announce JV On $185 Million Riverside Wharf Featuring Dream Hotel On Miami River
Miami Developer Alex Mantecon of MV Real Estate Holdings (MVREH), in conjunction with Driftwood Capital, one of the country’s leading hospitality sponsors, has revealed plans for the Riverside Wharf, a hospitality-driven entertainment complex situated along the historic Miami River that will push the limits of what is known today as hospitality in Miami.
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