Hotel breaks ground near airport with $13.5M loan

The Four Points by Sheraton Miami Airport hotel recently started construction after the developer secured a mortgage. HSBC Bank USA provided the $13.5 million construction loan to 36th Street Three LLC, an affiliate of Boca Raton-based Economos Properties. It has started building a 124-room hotel that would total 45,182 square feet. That includes a 2,220-square-foot…

Multifamily sector soars — will it last?

A rendering of Loftin Place apartments in West Palm Beach Sales of apartment properties totaled a record $2.8 billion in South Florida last year, according to CBRE, as new residents flocked to the area and people continued to shift from homeownership to rentals. Developers and other real estate professionals think the trend will continue for…