Downtown Miami Holiday Inn Sells For $43M

Holiday Inn in Downtown Miami

Kawa Capital Management has paid $43 million for the Holiday Inn in Downtown Miami, according to SFBJ. 

The sale included a lease buyback by the seller with both parties obtaining financing.

The site was last purchased in November 2015  by developer Gilberto Bomeny with plans to build a 77 story mixed used tower called ITC Miami and was designed by Arquitectonica. 

Downtown Miami Holiday Inn Purchased For $65M

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Holiday Inn in Downtown Miami

The Holiday Inn located at 340 Biscayne Boulevard in Downtown Miami has sold for $65 million, according to The Miami Herald.

The buyer is Brazilian developer Gilberto Bomeny, who plans on building a 77 story building at a height of 953 feet. The building will include 400 residential units, 240 hotel rooms, 270,000 square feet of retail and 246,000 square feet of office space. 

The World Trade Center of the Americas was first proposed earlier this year with Arquitectonica as the architect.