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Millennium Partners Closes on $215-Mil Construction Loan to Build Four Seasons Hotel

MIAMI-Fleet National Bank is teaming with Westdeutsche ImmobilienBank and Ocean Bank to back development of the 1.2 million-sf project on Downtown Brickell Avenue, the city's financial center.

By David R. Corder | Updated on January 12, 2001

MIAMI, FL-It took a syndication of three banks to pull together the $215 million that Millennium Partners needed to build the 63-story Four Seasons Hotel and Tower in the city’s Brickell Avenue financial district. Fleet National Bank joined with Westdeutsche ImmobilienBank and locally-based Ocean Bank to finance the joint venture project Millennium is building with Miami-based Terremark Worldwide Inc.

The 1.2 million-square-foot site will house a 222-room hotel and spa, 176 luxury condominiums, 84 condo units and 200,000 sf of class A office space.

“Brickell Avenue is the ideal location for such a unique property,” Ralph Gonzalez-Jacobo, Ocean Bank Senior vice president, says in a prepared statement. “It will appeal to business leaders from around the world that have offices here in Miami and are looking for the ultimate service in their living environment.”

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