AC Hotel in Aventura lands $35M construction loan

Nearby is the planned Aventura ParkSquare, an 8.5-acre mixed-use project

TRD MIAMI /
Aug.August 10, 2015 11:15 AM

Norwich Partners has closed on a $35 million mortgage for its planned AC Hotel by Marriott in Aventura, according to Miami-Dade County records.

Norwich is developing the 233-key property between Northeast 207 Street and Northeast 208th Street and between Biscayne Boulevard and Northeast 30th Avenue.

The nine-story, 192,514-square-foot hotel will be the second AC Hotel in South Florida. It’s set to open in January 2016, according to Norwich’s website. Zyscovich Architects will design the property. Amenities will include a bar, gym, pool, amenities deck, a breakfast room with a catering kitchen, and two levels of integrated parking.

Wells Fargo was the lender, records show. Norwich Aventura II paid $9.36 million in December for the 1.8-acre site on the southeast corner of that block. Norwich, a hotel development and investment company, has an agreement with ACC/GP Investment LLC, which owns the remaining properties on that block, according to Miami-Dade property records.

Norwich Partners, which is based in Lebanon, New Hampshire and Sanibel, Florida, is also developing an Aloft Hotel in Aventura. Norwich Partners did not immediately respond to calls for comment.

Also nearby is the planned Aventura ParkSquare, an 8.5-acre mixed-use project developed by Integra Investments. It’s slated for completion in early 2017.


Related Articles

arrow_forward_ios
21440 Biscayne Boulevard and listing broker Jonathan Molano

Opportunity Zone site in Aventura hits market, could trade for $100M, broker says

Elliot Eisenberg and his Aventura condo

Telling move: Housing expert relocating to South Florida for tax savings

A rendering of Via Ventura and Stuart Miller (Credit: Lennar)

Lennar sells off part of its Via Ventura community

Daily Digest Miami

Forever 21’s Lincoln Road store among planned closures, downtown Miami office building hits the market: Daily digest

Rendering of Esplanade at Aventura and Industrious CEO Jamie Hodari (Credit: Seritage and Industrious)

Industrious signs deal for 30K sf next to Aventura Mall

Denise Rubin with the Aventura skyline

Berkshire Hathaway’s Denise Rubin jumps to Coldwell Banker

Turnberry Village North Tower

Lawsuit accuses Aventura condo board of election violations

Richard Branson (Credit: Getty Images and iStock)

Here’s where Virgin Trains is proposing a mixed-use station in Boca Raton

arrow_forward_ios
Loading...