search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
South Florida

Ritz-Carlton Coconut Grove Hotel takes out $15M loan

Ritz-Carlton Coconut Grove
Ritz-Carlton Coconut Grove

Owners of the Ritz-Carlton Hotel Coconut Grove took out a $15 million loan, according to a mortgage recorded in Miami-Dade County on Thursday.

SunTrust Bank granted the loan to Miami-based investment firm Gencom. Gencom purchased the 115-room hotel in a joint partnership with the Continental Companies in June 2011, according to Miami-Dade property records. A sale price was not disclosed.

Sign Up for the undefined Newsletter

The hotel, at 3300 Southwest 27th Avenue, opened in 2002. Amenities include a lounge, Bizcaya restaurant, a poolside cafe, and a 6,000-square-foot spa and gym. Event space ranges from a 3,200-square-foot garden courtyard to the hotel’s 5,200-square-foot ballroom, according to the website.

The Ritz-Carlton is within walking distance of CocoWalk, a 198,000-square-foot outdoor shopping center that sold to Federal Realty and local partners for $87.5 million earlier this month.

Tags
BanksCoconut Grove