{"id":1004470381,"date":"2020-08-12T03:30:08","date_gmt":"2020-08-12T11:30:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004470381"},"modified":"2020-08-12T03:30:08","modified_gmt":"2020-08-12T11:30:08","slug":"former-ramada-hotel-trades-for-15m-in-miami","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/","title":{"rendered":"Former Ramada Hotel Trades for $15M in Miami"},"content":{"rendered":"<div id=\"attachment_1004470384\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004470384\" data-attachment-id=\"1004470384\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/ramada-hotel-hialeah\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Ramada Hialeah\/Miami Airport\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Ramada Hialeah\/Miami Airport. &lt;i&gt;Image courtesy of The Estate Cos.&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg?w=800\" class=\"wp-image-1004470384 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004470384\" class=\"wp-caption-text\">Ramada Hialeah\/Miami Airport. <i>Image courtesy of The Estate Cos.<\/i><\/p><\/div>\n<p>The Estate Cos., a developer of luxury multi-family communities in South Florida, has acquired a site occupied by a 258-key, former Ramada Hotel in Hialeah, Fla., for $15.3 million. The company financed the purchase with an $11.5 million acquisition loan arranged by LV Lending. The seller is a joint venture between Urban Commons and several other investors, according to Miami-Dade County records.<\/p>\n<p>Located on 5 acres at 1950 W. 49th St., the property is close to the Palmetto Expressway and 10 miles north of Miami International Airport. Additionally, the hotel is close to the retail corridor along West 49th Street, which includes Starwood Capital Group\u2019s 835,000-square-foot Westland Mall.<\/p>\n<p>The currently non-operational hotel was built in 1970 and expanded in 1973, 1979 and 1988. In 2017, the property was damaged during Hurricane Irma and rebuilt with insurance proceeds and a $9 million loan from West Bay Capital. In December 2019, Urban Commons sold a majority stake in the property to five other investors for $6 million, public records show.<\/p>\n<p>LV Lending Commercial Director Alen Hernandez, Partner Ricardo Uribe and Partner &amp; CEO Camilo Ni\u00f1o arranged the funding for the borrower. Last year, the same team <a href=\"https:\/\/www.commercialsearch.com\/news\/greater-orlando-office-condos-land-financing\/\">secured a $4.1 million construction loan<\/a> for a 42,909 square-foot office project in Hunter\u2019s Creek, Fla.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LV Lending facilitated an $11.5 million acquisition loan for the buyer, The Estate Cos.<\/p>\n","protected":false},"author":867,"featured_media":1004470384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,1492,21742],"tags":[44069,49975],"class_list":["post-1004470381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-miami","category-latest","tag-lv-lending","tag-the-estate-cos"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former Ramada Hotel Trades for $15M in Miami - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Ramada Hotel Trades for $15M in Miami\" \/>\n<meta property=\"og:description\" content=\"LV Lending facilitated an $11.5 million acquisition loan for the buyer, The Estate Cos.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-12T11:30:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/\",\"name\":\"Former Ramada Hotel Trades for $15M in Miami - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\",\"datePublished\":\"2020-08-12T11:30:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ramada-hotel-trades-for-15m-in-miami\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/Ramada-Hotel-Hialeah.jpg\",\"width\":800,\"height\":620,\"caption\":\"Ramada Hialeah\/Miami Airport. 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