AC Hotel in Aventura lands $35M construction loan

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.


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