Plans to start Sonesta Mikado Hotel Miami

MIAMI - Plans have been announced to start construction, this June, on Sonesta Mikado Hotel Miami. This Development will have a 252-key mixed-use hotel with oversized rooms and double suites. This Hotel will also feature 119 luxury residences. There will also be office and retail space available. It is proposed to be a 40-story property.
Tibor Hollo, president of Florida East Coast Realty (FECR), has made the announcement. Florida East Coast Realty has been in business, in Florida, for over 50 years.
Sonesta will manage the property. The location will be at 1701 NE 4th Ave., across from Margaret Pace Park and Biscayne Bay.
No details on financing were disclosed.
There has been reports of an influx of Private Equity Financing becoming available for Florida Commercial Real Estate.

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