665 Mokena Partners an entity led by Steven Marin and Michael Pfeffer, have landed a $15.2 million construction loan to build a Comfort Inn & Suites Hotel in Miami Springs. Plans call for an 8-story property that will feature 120 guestrooms and suites and ameneties. The asset will be located just north of Miami International Airport at 665 Mokena Drive. Aztec Group’s Managing Director, Boaz Ashbel, arranged the funding through TotalBank. The Comfort Inn & Suites Hotel will be managed by Travelers Hotel Group and is expected to open in mid-2019.
“Placing a hotel construction loan these days is challenging. It takes a great location in a vibrant submarket and a sponsor as strong as this owner is, with a long and successful track record in the region’s hospitality market to get a loan over the finish line,” said Boaz Ashbel, Managing Director of Aztec Group. “The hotel’s strong brand affiliation with the Comfort Inn & Suites flag, contemporary design, affordable pricing, and excellent location close to one the nation’s busiest international airports will position the property for long-term success.”
