To view this content, you need to sign in.
You should only be asked to sign in once. Not the case? Click here
Register now to access this content and more for free.
BB&T backs revamp of historic Miami Beach hotel
BB&T Real Estate Funding has provided a $40m loan to Optimum Asset Management for the redevelopment of the historic Park Central Hotel in Miami Beach, Florida. The three-year, floating-rate, senior real estate construction loan will be used to convert three existing Art Deco buildings – the 1939 Art Deco Park Central Hotel, the Imperial Hotel and Heathcoat Apartments – and a .15-acre development site and turn them into a new 135-room hotel under the Park Central Hotel name.
