MIAMI—VistaPointe Partners has closed a construction loan of $19.97 million for the EVEN Hotel Miami Airport on behalf of EDG Hospitality Miami Airport. Intercontinental Hotels Group will operate the hotel. Trust Hospitality will manage the asset. Epbelboim Development Group is building the 190-room hotel. Designed with wellness at its core, EVEN Hotel Miami Airport will focus on helping travelers maintain a healthy lifestyle through a best-in-class fitness experience, healthier food choices and natural, relaxing spaces. Construction has already commenced and the project is slated to open during the first quarter of 2018. "Hotel construction financing can be a challenge and is considered higher risk, so lenders prefer lower loan-to-cost," says Karla Peterson, managing director at VistaPointe Partners. "In addition to the market around the airport being very strong with high occupancy and ADR increase trends, we were able to demonstrate the potential of the EVEN Hotels brand. Even though this brand is new, it is backed by Intercontinental Hotels Group , one of the largest hotel companies in the world. These were key factors that gave this project an edge in attracting lenders."

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