Five years ago, on the eve of a national real estate collapse, Pedro Villar completed the shell of a condominium building in Miami’s Brickell area but was worried about finishing the rest of the project.
Mulling his options while waiting out the industry downturn, Villar decided the project could be saved by partnering with hospitality veteran Francisco Arocha to construct a mid-priced hotel on the 1001 SW Second Ave. property. Villar’s Mary Brickell Village Hotel LLC in January secured $7.5 million in construction financing from City National Bank and is now close to completing Aloft Miami-Brickell, which will target younger business travelers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
