Charles Cohen boosts financing for Le Méridien in Dania Beach

245-room hotel expected to open next year

TRD MIAMI /
Apr.April 30, 2018 10:30 AM

Rendering of the Le Méridien Fort Lauderdale Airport and Charles Cohen

Developer Charles Cohen closed on an additional $22.3 million in financing for the redevelopment of the former Sheraton hotel in Dania Beach.

Property records show Cohen Dania Beach Hotel LLC boosted its loan to $75 million, up from $52.7 million in 2016. Fortress Investment Group, a private equity firm based in New York, is the lender. Fortress was acquired by SoftBank Group last year for $3.3 billion in cash.

The 245-room Le Méridien Fort Lauderdale Airport at 1825 Griffin Road is slated to open next year, according to its website. The hotel is part of Cohen’s Design Center of the Americas, a 40-acre, 800,000-square-foot design and office campus off of I-95 near Fort Lauderdale.

The Le Méridien will feature an expanded fitness center, renovated outdoor pool, 20,000 square feet of flexible meeting space and two redesigned restaurants. Nichols Brosch Wurst Wolfe & Associates is the architect.

The Cohen Brothers Realty Corp. affiliate paid $34.3 million for then 250-room hotel in 2014 and closed the Sheraton two years ago. Cohen is president and CEO of the company, which owns and manages more than 12 million square feet of office space and design centers across the country.


Related Articles

arrow_forward_ios
Daily Digest Miami

Related sells Tampa apartments for record $132M, Miami apartment tower evacuated after fire: Daily digest

Rendering of Sailboat Bend II

Affordable housing project in downtown Fort Lauderdale lands $27M loan

Hotel Morrison (Credit: iStock)

Hospitality firm buys new Hotel Morrison in Dania Beach for $28M

Rendering of developer Asi Cymbal’s rental project in Dania Beach

Developer Asi Cymbal scores rezoning of property across from Dania Pointe

A rendering of the planned headquarters

Spirit Airlines plans to build $250M HQ campus in Dania Beach

Daily Digest Miami

Robert Shapiro gets 25 years in prison for massive Ponzi scheme, Compass Florida taps former Facebook exec to lead operations: Daily digest

Rendering of the Dania Beach project

Dania Beach to negotiate with developers for $634M mixed-use project

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

arrow_forward_ios