FAENA UNVEILS RESIDENCES ON MIAMI’S RIVERFRONT: Faena, the lifestyle brand, is expanding from Miami to Miami Beach through a multi-phase cultural district, located within a 14-acre private park along the Miami River. The Faena District Miami River will be anchored by the Faena Residences Miami, a riverfront project designed by Rafael Viñoly Architects. The property will comprise two riverfront towers connected by a two-story, 45,000-square-foot cultural epicenter and offer 440 exclusive homes. Faena District Miami River will span over three blocks and will include cultural spaces, wellness facilities, a marina and recreational areas. The project will be developed by Fortune International Group and KAR Properties.
HILTON ADDS TO INDIAN PORTFOLIO: Hilton is adding to its Indian portfolio and will be opening its first location in Udaipur, Rajasthan. Collaborating with Elysian Hotels Pvt. Ltd., Hilton has announced plans for the 118-room Hilton Udaipur, which is scheduled to open in early 2026. The new-build hotel will offer views of the city’s famed lakes and palaces, including Lake Pichola and the Fateh Sagar Lake. The property will include four dining venues, an outdoor pool, a spa, gym, an executive lounge and 1,850 square meters of indoor and 438 square meters of outdoor event spaces. The signing helps Hilton grow its presence in the state, following the signing of its Waldorf Astoria brand in 2023 and India’s third Conrad Hotels & Resorts hotel in Jaipur earlier this year. Across South Asia, Hilton has 55 trading and pipeline hotels and is aiming to triple its presence to 75 properties.
REFI FOR CALIFORNIA HOTELS: Berkadia has refinanced two hotels in Carlsbad, Calif. — the 215-room Cape Rey Carlsbad Beach, a Hilton Resort & Spa and the 161-room Hilton Garden Inn Carlsbad Beach. The Berkadia teams secured the $92.5 million loan through MetLife Investment Management Hospitality on behalf of the borrower, California-based Wave Crest Hotels and Resorts. The five-year loan featured a half-term interest-only provision and a 65% loan-to-value ratio.
MANDARIN ORIENTAL BRINGS BRANDED RESIDENCES TO ABU DHABI: Aldar, the Abu Dhabi-based real estate developer, manager and investor, has partnered with Mandarin Oriental to bring Mandarin Oriental’s branded residences on Saadiyat Island in Abu Dhabi. Mandarin Oriental Residences will comprise 228 luxury homes, with sales set to launch later this year. The property will be located within Saadiyat Cultural District overlooking the Zayed National Museum and within walking distance of Louvre Abu Dhabi, the forthcoming Natural History Museum Abu Dhabi and Guggenheim Abu Dhabi. The residences will include 3,500 square meter of dining spaces along the Zayed National Museum promenade, as well as 60,000 square meters of retail, entertainment and leisure options at the nearby Saadiyat Grove. The project’s announcement comes at a time when demand for branded residences in Abu Dhabi is experiencing an impressive growth. Earlier this year, a penthouse in one of Aldar’s residential developments on Saadiyat Island sold for a record AED137 million.
