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South Florida

CGI secures $53M in financing for new Miami hotel

The Casa Moderna hotel at 1100 Biscayne Boulevard
The Casa Moderna hotel at 1100 Biscayne Boulevard

CGI Merchant Group scored a $53 million refinancing for the construction of a hotel and restaurant in Miami.

The property is located at 1100 Biscayne Boulevard and will feature 129 rooms under the ME Miami hotel brand, according to the South Florida Business Journal. The project, which is expected to open spring 2015, will also include a restaurant called STK Rebel.

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They new hotel is replacing the 56-room Casa Moderna hotel.

Based in Spain, Melia Hotels International is making its U.S. debut with CGI Merchant Group in Miami. [South Florida Business Journal] — Christopher Cameron

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HotelsRefinancing