MIAMI BEACH, FL-Sam Nazarian's SLS brand hotel is all set toopen in South Beach, Florida, backed by a $65 millionrecapitalization. Nazarian secured the finance for the Miami'sCollins Avenue project as equity given predominantly by hiscompany, SBE Entertainment, and his family.
The project embraces a beach club, a Bazaar restaurant, 10poolside bungalows and a sushi eatery. Nazarian plans to startconstruction in January 2011 and to open the hotel at the beginningof 2012. For the full story, go to Wall Street Journal.
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