The Real Deal Miami

Developer receives $18M loan to build Midtown Hampton Inn

Midtown Lodging bought future Hampton Inn site for $4.5M

December 09, 2014 03:15PM

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Florida Community Bank approved an $18.3 million loan to build a Hampton Inn in Midtown.

Midtown Lodging was approved for an $18.3 million loan from Florida Community Bank to build a Hampton Inn in Midtown.

The developer, an affiliate of Tennessee-based 3H Group Hotels, bought the 36,240-square-foot site, located at 3450 Biscayne Boulevard and 246 Northeast 35th Street, from Hemant Patel’s Arti Hersi Inc. for $4.5 million, the South Florida Business Journal reported.

The previous owner was already approved to build the 142-room hotel, according to the article. [South Florida Business Journal] – Katherine Kallergis

 

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