Developers close on $21M construction loan for AC Hotel in Edgewater

It’s being co-developed by an Aztec Group affiliate and 3H Group

Rendering of AC Hotel by Marriott in Midtown and Aztec Group's Boaz Ashbel (Credit: Aztec Group)
Rendering of AC Hotel by Marriott in Midtown and Aztec Group's Boaz Ashbel (Credit: Aztec Group)

An AC Hotel by Marriott will soon go vertical in Miami’s Edgewater neighborhood.

Property records show a company tied to Aztec Group’s Boaz Ashbel just scored a $21.3 million construction loan for the hotel development, set to rise on the former Midtown Inn Miami site at 3400 Biscayne Boulevard, near the Julia Tuttle Causeway.

Midtown Lodging 2 LLC, an affiliate of Aztec and Tennessee-based 3H Group, is developing the 153-room hotel, Ashbel said. Hemant Patel’s Arti Hersi Inc. also owns a stake in the project.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The company paid $1.25 million for the 18,700-square-foot lot in January, and knocked the building down shortly after. The developers plan to go vertical in May, according to Ashbel. The property is a few blocks away from the Shops at Midtown Miami and the Design District.

Kobi Karp is designing the seven-story hotel, which will feature a restaurant and bar, a rooftop pool, fitness center and meeting rooms. It will also share a 217-space parking garage with the adjacent Hampton Inn & Suites Miami Midtown.

Marriott acquired the AC brand from a Spanish development company, and the brand has opened properties in Miami Beach and Aventura with hotels planned for Sunrise, West Palm Beach and other South Florida cities.