Featured Columnists
Real Estate News

Argentinian Investors buy South Beach Hotel


An investment group from Argentina operating under the name 418 Meridian LLC has purchased the former Plaza Hotel on South Beach for $5.5 million.

The seller was LeaseFlorida, which acquired the 20,809-square-foot property in 2012 after foreclosing on a $3 million mortgage, plus interest and fees. It has since made the building structurally sound and cleared up code violations, according to the South Florida Business Journal

The property includes a three-story, 60-room hotel and a one-story apartment building. The foreign investors obtained a $2.78 million mortgage maturing January 18 from Meridian Lender LLC. They plan to renovate and reopen the hotel, which has been closed for several years, the Business Journal reported.

Sponsored by

Comment with Facebook


Copyright 2010 - 2017 WORLD PROPERTY JOURNAL, INC. All Rights Reserved.
Advertisement
News Search
Go


Luxury Property Spotlight

Reader Poll

Advertisement
×
WORLD PROPERTY JOURNAL
 
Free News Alerts
 

Sign up now to receive the latest local & global real estate news in your inbox.

GO