HES Group buys out partner and refinances proposed Triptych hotel in Midtown Miami – South Florida Business Journal

HES Group Secures Loan $9.5 Million Loan For Triptych Hotel in Midtown Oct 23, 2017 Oct 23, 2017 Ritz-Carlton Residences, Miami Beach Reveals Renderings of Doo Architecture-Designed Penthouses Oct 23, 2017

Downtown Miami’s former b2 hotel has a new name: Yve Hotel Miami. The name change, which was effective Dec. 1, follows the $57.5 million sale earlier last year of the 243-room hotel to Host.

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HES Group has secured a $9.5 million loan for Triptych Hotel, in Midtown Miami, adjacent to Miami Design District. The loan was provided by a Panama-based lender 21 Brands S.A. Triptych Hotel was approved earlier this year, after HES Group sold JQ Group shares in the project for undisclosed terms.

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A group led by Transacta Developers has proposed a 179-room hotel in an area of Miami Beach that was recently rezoned to allow for higher buildings.. Senior Reporter, South Florida Business.

The company that plans to build a Triptych hotel in Midtown Miami has secured $23.2 million in financing and bought out its former partner. Aventura Hotel Properties, managed by Alberto Abilahoud.

In 2004, the Midtown Miami CDD issued $78m worth of bonds. Of the funds, $3.6M was supposed to be allocated to build a 1-acre public space at the Entertainment Block, including a $2m public fountain, along with landscaping and hardscaping, the prospectus stated.

HES Group has opened an office in Wynwood and will probably break ground on Triptych next month. Two art exhibits, the 50-foot tall WISH Exhibit by Rob Buchholz and Peter Tunney’s Lady bug, were unveiled yesterday at the Triptych site.

The east leg of the proposed tri-rail coastal Link. coastal Northeast Miami-Dade County, a Miami development group announced in August plans. South Florida Business Journal..

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