Ronny Finvarb has nabbed a $27.56 million construction loan for his new Kimpton hotel on Alton Road in Miami Beach, The Real Deal has learned.
Finvarb, principal of the Finvarb Group, told TRD that TotalBank is the lead lender, with participating lenders Floridian Community Bank and Apollo Bank. The financing has not yet cleared records.
Site work has already begun on the future hotel at 1750 Alton Road, which will be called the Kimpton Hotel Palomar South Beach when it opens in the fourth quarter of 2018, Finvarb said. The property was the former site of a Boston Market, which was demolished last year. (more…)