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  #21  
Old Posted Apr 5, 2019, 7:38 PM
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https://therealdeal.com/miami/2019/0...from-bank-ozk/

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YotelPad Miami scores construction loan from Bank OZK
Aria and AQARAT broke ground on 31-story tower in February and sales are at 75%

The development group building YotelPad Miami closed on a construction loan from Bank OZK for the downtown Miami project.

Aria Development Group and AQARAT received a $76.25 million loan from the bank, previously known as Bank of the Ozarks, property records show. The project, at 227 Northeast Second Street, will be a 31-story tower with 231 condos and 222 Yotel “cabins,” or small hotel rooms.
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  #22  
Old Posted Apr 16, 2019, 12:08 AM
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YOTELPAD SAYS THEY ARE BREAKING SALES RECORDS IN DOWNTOWN MIAMI, WITH CHINESE & MEXICAN BUYERS DOMINATING

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Brokers for Yotelpad announced yesterday in a press release that they have broken the sales record for downtown Miami, becoming the fastest selling project ever.

OneWorld Properties, which is leading sales, says that 75 percent of units have now been sold. The project will include 231 residential units and 222 hotel rooms, meaning over 170 condos have been sold.

The milestone was achieved in under nine months, with sales first getting underway in June 2018.

More than 46 percent of buyers are from Mexico and China, with a substantial number of buyers also coming from Argentina, Colombia and other South American markets.

Chinese are the second largest group of buyers. OneWorld Properties recently celebrated the one year anniversary of their office in Shanghai, and the project is popular there due to the strong name recognition of Yotel, along with the price point and location of the project.

A 31-story, 341-foot tower is being built, without any parking podium. Site work is now underway, and the developers obtained a $76.25 million construction loan from Bank OZK this month.

Completion scheduled for early 2021.

Stantec is the architect. Aria Development Group and Kuwait’s Aqarat are the developers.
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  #23  
Old Posted Apr 28, 2019, 9:35 PM
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Old Posted Jul 25, 2019, 3:27 AM
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  #25  
Old Posted Aug 12, 2019, 8:28 PM
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  #26  
Old Posted Sep 13, 2019, 8:44 PM
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  #27  
Old Posted Oct 8, 2019, 7:36 PM
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YotelPad Construction Downtown Miami by Phillip Pessar, on Flickr
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