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Miramar Hotel Project Gets $10M Construction Loan

A rendering of the planned 97-key Tru by Hilton at 14575 Southwest 27th Way in Miramar (DP Inns, Google Maps, iStock)

DP Lodges options to develop its South Florida portfolio following nabbing a $10 million design personal loan to build a 97-critical Hilton-branded lodge in Miramar.

The Dania Beach-based hotelier, led by President and CEO Dan Patel, obtained funding from Conway, Arkansas-based Centennial Bank, according to a push release. The town of Miramar accepted a web site approach for the 46,334-square-foot hotel whilst it was continue to less than deal in 2019.

Very last thirty day period, DP Inns shut its $2.4 million invest in of the nearly 2-acre property at 14575 Southwest 27th Way exactly where the corporation options to create a Tru by Hilton hotel. The seller was Progressive Casualty Insurance plan, which built an workplace creating adjacent to the lodge improvement internet site, according to records.

DP Hotel’s Miramar project will function a ground-degree pool, conference space, physical fitness center and a 97-space parking large amount, the release states. The agency has made and owns 17 lodge houses in Indiana, Texas and Florida, such as 5 in Fort Lauderdale and a single every single in Dania Seashore and Tamarac, according to DP Hotels’ website.

New hotel advancement is picking up across South Florida. Past month, MHG Accommodations announced it is shifting ahead with ideas to tear down two single-tale business buildings in downtown Hollywood where the Indianapolis-primarily based firm ideas to develop a 112-space Courtyard by Marriott hotel.

Also in March, Jeshayahu “Shaya” Boymelgreen landed a $30 million construction bank loan for a resort in Surfside. Boymelgreen plans to develop the three-tale, 200-important resort at 9300 Collins Avenue.

In February, Utah-dependent Dynamic Town Capital bought a recently done AC Resort by Marriott in Fort Lauderdale for $74.3 million. The hotel’s developers, Miami-dependent Vital Worldwide and West Palm Beach-centered Wexford Actual Estate Traders, marketed the 171-room property.