Sandy Patel & Aevin Sanjay Secure $27 Million Loan For Marriott Hotel Development In Miramar

The asset involved in this transaction is a development site located at 11020 Marks Way, Miramar, FL, covering an area of 3.56 acres. The transaction includes a construction loan amounting to $27,000,000, which is designated for the development of a dual-branded Marriott hotel. This project consists of a total of 160 rooms and will feature a seven-story structure.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $27,000,000
• Lender: Banesco USA
• Landlord: Sandy Patel & Aevin Sanjay - Luckey’s Management
• Acquisition Price: $3,500,000
• Expected Delivery: Q4 2027
• Loan Type: Construction

Key individuals involved in the transaction include Sandy Patel and Aevin Sanjay, who represent Luckey’s Management. The construction loan secured from Banesco USA enables the commencement of the hotel project, which is anticipated to enhance the area with its planned facilities.