The Jesta Group, The Lotus Group, and Chetrit Group have secured a $103 million bridge loan from Peachtree Group to fund the final stages of the Hilton Miami Beach Convention Center Hotel. The loan was closed on March 11, 2026, with the announcement following on March 16, 2026. The financing will provide short‑term working capital for construction costs, pre‑opening expenses, and other operational needs until permanent financing is in place.
The 289‑key property sits adjacent to the newly renovated Miami Beach Convention Center and occupies the historic Collins Park Hotel site, which was built between 1938 and 1953. The hotel is slated to open in May 2026, adding a premium venue to a rapidly expanding convention hub that recently received a $640 million upgrade.
The bridge loan is designed to bridge the gap between the completion of construction and the final long‑term debt or equity financing. By covering working‑capital needs, the loan reduces the risk of construction delays and ensures the hotel can begin operations on schedule. The funding also signals confidence from a reputable lender in the viability of the project.
Hilton Worldwide’s asset‑light strategy—relying on franchising and management agreements—has driven a projected net unit growth of 6‑7% for 2025. This financing aligns with that strategy by enabling the company to expand its portfolio in a high‑profile market without taking on additional property ownership risk. The loan supports Hilton’s broader goal of scaling its global footprint while maintaining capital efficiency.
Jared Schlosser, head of originations at Peachtree, said, “Projects like this require thoughtful structuring given the complexity of historic redevelopment and construction completion. That complexity is exactly why sponsors seek lending partners with the experience and balance sheet to structure capital solutions and help move projects forward.” He added, “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.” Greg Friedman, managing principal and CEO of Peachtree, noted, “Last year was a record year for our credit and lending team and we expect even greater activity ahead as market conditions continue to evolve.”
The bridge loan not only keeps the Hilton Miami Beach project on track but also reinforces investor confidence in the company’s expansion plans. By securing short‑term financing, Hilton can focus on delivering a high‑quality property that complements the upgraded convention center, positioning the brand to capture increased event traffic and strengthen its presence in a key growth market.
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