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Banesco USA has completed a $22.3-million construction to build a mixed-use development in the South Beach neighborhood of Miami Beach, FL.

$22M Loan Lifts Undulating Mixed-Use Development in South Beach

Banesco USA has completed a construction loan in the amount of $22.3 million for development of a mixed-use project in the South Beach neighborhood of Miami Beach, FL. The venture partners are Finvarb Group and Chahine Investment Corp.

The property at 1685 Washington Avenue will include a 150-room full-service Thompson Hotel by Hyatt, restaurant and retail spaces. Its location is steps from the popular shopping and nightlife destination, Lincoln Road, and a couple of blocks from the sands of Miami Beach. The subject site sits catty corner to the Fillmore Miami Beach at Jackie Gleason Theater and the expanded 1.2 million square foot Miami Beach Convention Center.

The building was designed by French architect Rudy Ricciotti, and consists of undulating balconies that curve and protrude sporadically for an art-inspired façade. A rooftop restaurant, swimming pool, and deck area look out to Soundscape Park and the New World Symphony building designed by Frank Gehry.


Inside The Story

Banesco USA

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing