Miami Beach Project Lands $300M Loan From HSBC

Law360, Miami (February 14, 2014, 7:54 PM EST) -- Argentina-based Faena Group and Access Industries announced Friday that they have secured a $300 million construction loan, the largest single-project financing in South Florida since the recession, from HSBC Bank USA NA for a large hotel and residential development in Miami Beach.

Access Industries — which is led by New York-based businessman Len Blavatnik — and Faena said they have secured the loan for the Saxony Hotel and Faena House in Miami Beach, part of a mixed-use project in the city that will include an arts...
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