Hotels

The gaming board report later notes that the amount of profit relative to total development costs, inclusive of licensing and reconciliation fees, would be at best result in a 1% or 2% return annually, which is not an acceptable rate of return for a casino developer on a greenfield project.

The 180-room hotel is located between the tower building’s 48th and 60th stories. The Four Seasons Hotel Philadelphia also features 39 suites at the Comcast Tower that is the tallest building in the City of Philadelphia.

The hotel has undergone a meticulous renovation to include the restoration of the marble and Granux exterior and the marble-clad lobby, along with the Zoe Ballroom being restored to its original 1914 design.

This likely is the biggest office construction loan to ever close for a Brickell project.

The property is being sold by Marshall Florida Investments, which is led by Rick Marshall, and is expected to close within 73 days.

L Catterton Real Estate and QIC Global Real Estate plan to reposition the shopping mall into a mixed-use complex with hotel, office, apartments and retail.