Developer scores construction loan for dual-branded Marriott hotel at Dania Pointe
$800M project calls for 800K sf of retail, 500K sf of office, two hotels and resi units
Economos Properties closed on a construction loan for a dual-branded Marriott hotel at Dania Pointe, a major mixed-use project in Dania Beach.
Boca Raton-based Economos, led by Nicholas Economos Jr., secured a $52.5 million loan from Citizens Bank for the 420,000-square-foot hotel complex, property records show. The $75 million hotel, which will consist of a full-service Marriott and an AC Hotel by Marriott, is part of the $800 million, 102-acre development.
Kimco Realty is the lead developer of the project, just east of I-95 at Stirling and Bryan roads. When it’s completed, Dania Pointe will have 800,000 square feet of open-air retail space, 500,000 square feet of Class A office space and more than 1,000 apartment and condo units.
The hotels will be built above 25,000 square feet of retail space, and will feature separate sky lobbies, ballrooms and meeting space, and an amenity deck with an infinity pool, pool deck, spa and gym. The 14-story Marriott will have 196 rooms and the AC hotel will be 11 stories tall with 154 units.
It’s set to be completed in 2020, in time for the Super Bowl, which is being held in Miami.
Retail tenants include Brandsmart USA, Lucky’s Market, Ulta Beauty, Starbucks, Outback Steakhouse and Burger King.
In September, Meyers Group closed on a $35 million construction loan for the first phase of Avery Dania Pointe, a luxury rental development at the project. The first phase, consisting of an eight-story, 264-unit luxury apartment building, is slated to open the first quarter of 2020.