Chetrit Group Secures $88M Refinancing Loan From Kawa Capital For Collins Park Hotel In Miami Beach

The property asset involved is the Collins Park Hotel, a four-star establishment located at 2000 Park Avenue in Miami Beach. The hotel features 280 rooms and is currently undergoing construction, with an expected average nightly rate of $350 upon opening in six months.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $88,000,000
• Lender: Daniel Ades - Kawa Capital
• Landlord: Joseph Chetrit - Chetrit Group; Lotus International
• Loan Type: Refinance

The transaction involves Chetrit Group securing a loan from Kawa Capital to complete the hotel project, which has been in development for nearly a decade. The partnership with Lotus International highlights the collaborative effort to finalize the hotel construction.