Think Hotel Group closes $22M loan for Clinton Hotel in South Beach

Renovations included a full restoration of the lobby’s layout using the original 1930's Spanish tile

Miami /
Jul.July 16, 2018 05:00 PM

Clinton Hotel in South Beach (Credit: Think Hotel Group)

Think Hotel Group just received a $22 million loan from Blue Vista Finance for the recently renovated Clinton Hotel in South Beach.

The hospitality firm recently completed an 18-month, multimillion-dollar renovation of the 88-key hotel at 825 Washington Avenue, including a full restoration of the lobby’s layout using the original 1930’s Spanish tile, a fully renovated pool and courtyard, as well as full renovations to all of its guest rooms. Think Hotel Group also added a new onsite Brazilian restaurant, Falsa Limonada.

A spokesperson for the developer declined to comment on the loan.

Think Hotel Group purchased the Miami Beach property for $28.5 million in June 2015, more than four times its previous sale in 2007, records show. The company also owns and operates The Plymouth Miami Beach, Boulan South Beach and South Beach Hotel.

Nearby at 1685 Washington Avenue, the Finvarb Group is planning to build a 150-room hotel under the Thompson Hotels brand. The proposal received a recommendation for approval from the Miami Beach Planning Board last month, but still needs approval from the Miami Beach Historic Preservation Board.

In 2015, Miami Beach commissioners approved an ordinance designed to bring hotels, fine dining and new retail to Washington Avenue. David Lichtenstein’s Lightstone Group is also planning Moxy South Beach, a seven-story, 202-room boutique hotel to replace aging storefronts at 915 to 947 Washington Avenue.


Related Articles

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Louis Puig and 333 Jefferson Avenue in South-of-Fifth (Google Maps)
Former Club Space owner buys South Beach apartments for short-term rentals
Former Club Space owner buys South Beach apartments for short-term rentals
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
Karen H. Bechtel and Continuum South Beach (100 South Pointe Drive, Miami Beach) (Bechtel via Carlyle)
Private equity power couple sell 36th floor condo for $30M
Private equity power couple sell 36th floor condo for $30M
Developers David Martin, Russell Galbut and renderings of the project.
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
David Martin and Russell Galbut start sales of Five Park condo tower in South Beach
HFZ’s Ziel Feldman with the Shore Club (Getty, Facebook via Shore Club)
HFZ Capital off the hook for $6M in failed Shore Club South Beach deal
HFZ Capital off the hook for $6M in failed Shore Club South Beach deal
Chris Lorenzen and Richard W. Gray III with Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, DJR Enterprises, Apogee Condo South Beach)
Securities trading CEO buys Apogee condo in South Beach for $12M
Securities trading CEO buys Apogee condo in South Beach for $12M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...