New York based HFZ Capital Group has received a $185 million refinancing facility for the iconic Shore Club in South Beach. Carlton Group, an international real estate investment firm, arranged the financing through Banco Inbursa, a Mexican bank owned by Carlos Slim. Located at 1901 Collins Avenue, HFZ plans to restructure the existing 309 rooms into 100 hotel rooms and 75 residences to be operated by a 5-star hotel brand. The Shore club was built in 1938 according to the design of British modernist David Chipperfield. HFZ purchased the hotel in 2013 for $175.3 million and will use the Brazilian Isay Weinfeld for the redesign.
