Historic Tides Hotel to reopen under Safe Harbor’s ownership with $45M mortgage

Safe Harbor Capital Partners plans to reopen the historic Tides Hotel in Miami Beach following a multimillion-dollar renovation, after taking control of the property through foreclosure and securing a $44 million mortgage. Maxim Credit Group provided the loan for the 13-story, 45-room South Beach hotel at 1220 Ocean Drive and adjacent properties at 1201 Collins Avenue, 1221 Collins Avenue, 1225 Collins Avenue and the parking garage at 1155 Collins Avenue, records show. Some of the financing will go toward upgrades, with the hotel slated to reopen next month, according to the company. A spokesperson for Safe Harbor told The Real […]

This article originally appeared on The Real Deal. Click here to read the full story.