Ritz Bal Harbour
CategoriesPress Release Uncategorized

MIAMI (March 28, 2016) –– The Ritz-Carlton South Beach successfully executed a $210,000,000 refinance with Cantor Commercial Real Estate and Societe Generale. The transaction was announced by Lionstone Development and Flag Luxury on behalf of the Dilido Beach Resort L.L.C. a joint venture between such entities. Greenberg Traurig and Eastdil Secured represented Dilido Beach Resort L.L.C.

“The closing of this financing serves to further confirm the strength of The Ritz-Carlton South Beach. We are delighted to own this asset and look forward to its continued success.”
– Diego Lowenstein, CEO of Lionstone Development

“We are very pleased to secure this financing for our flagship hotel. South Beach is a vibrant and diverse hospitality market and we are proud to be the leaders in this market today and for years to come.”
– Paul Kanavos, CEO and Chairman of Flag Luxury

About Lionstone Development
Miami-based Lionstone Group has a 50-year track record of owning, developing, leasing, and managing hospitality and residential properties throughout South Florida. Lionstone’s property and development portfolio includes distinctive  projects such as The Ritz-Carlton, South Beach; The Ritz-Carlton, Bal Harbour; EPIC Residences & Hotel; and the first Virgin Hotel located in Chicago. For more information, visit www.lionstonedevelopment.net.

About Flag Luxury
Having planned and completed over $4 billion of hospitality, retail, entertainment and residential projects, Flag Luxury is a leader in its industry. Notable recent projects include The Ritz-Carlton, South Beach; The Ritz-Carlton, Bal Harbour; The Ritz-Carlton, Coconut Grove and Residences; The Ritz-Carlton Golf Club and Spa Jupiter; The Shelborne Wyndham Grand South Beach; The Wyndham Orlando Resort; I Shops Retail Orlando; I-Drive 360 Orlando entertainment and retail complex; the Harmon Retail Center on the Las Vegas Strip; and The Ritz-Carlton Shops South Beach. Flag Luxury currently has over $1 Billion of new projects in its pipeline in New York City, Miami and San Francisco.

about us

The Lowenstein family of Lionstone Development planted its roots in Miami in 1966 with the purchase of their first hotel in Miami Beach. Since then, the family has been proud to be a part of South Florida’s evolution in the past few decades, becoming a prominent world class cultural, leisure and business destination.

Company info


Contact us with questions!