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South Florida

Delano owner repays $161M loan

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The owner of the Delano hotel in South Beach has repaid its $161 million
mortgage, according to a satisfaction notice issued by lender Wells
Fargo Bank June 15. The hotel is owned by Beach Hotel Associates, which
is part of the Morgans Hotel Group. The 194-room Delano is located at
1685 Collins Avenue in South Beach. Earlier this year, Morgans announced
it would be expanding the Delano
brand abroad to Turkey and Mexico. [SFBJ]

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