Peachtree Lends $103M in Miami Beach Convention Center Hotel Recap 

A joint venture between The Jesta Group, The Lotus Group and Chetrit Group has sealed $103 million of bridge debt for the recapitalization of the Hilton Miami Beach Convention Center Hotel, Commercial Observer can first report.

Peachtree Group originated the loan, which will also fund completion of the 289-key hotel, slated to open in May 2026 adjacent to the Miami Beach Convention Center.

Jared Schlosser, head of credit originations at Peachtree Group, said the project is poised to benefit from its close proximity to a convention center that added a 60,000 square-foot ballroom and 127,000 square feet of additional meeting space following a recent $640 million enhancement project. Schlosser noted that the convention center hosted a facility record 100 events in the 2024 fiscal year including 30 recurring annual events and more than 60 other major conventions and gatherings.

A separate Grand Hyatt Miami Beach slated for completion in late 2027 also adjacent to the convention center is expected to further boost the number of yearly events while benefiting both hotels, according to Schlosser. He added that both hotels should also attract plenty of tourists as well given location near the Atlantic Ocean.

“This will help the convention center accommodate rooms and attract more business plus your blocks away from the beach and there is a rooftop bar and two rooftop pools,” Schlosser told CO. 

Schlosser added that the property is also added by strong sponsorship led by The Jesta Group, which also owns the Clevelander Hotel, Essex House Hotel and Stiles Hotel in Miami Beach. 

Representatives for The Jesta Group, The Lotus Group and Chetrit Group did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.