MIAMI— HOTEL BUSINESS® has learned the former Sinclair Hotel here has been acquired for $1.4 million by Barcelona Hotel LLC. The new owners, whose principals include Mallory Kauderer, Vera Mender, Robert Gothard and Patrice Gouty, expect to restore the 1925 three-story, Mediterranean Revival style property— also known as the Barcelona Building. Located at Drexel Ave. and Espanola Way, two blocks from Lincoln Road in the South Beach Art Deco district, the building consists of 16,440 square feet on 8,600 square feet of land. Preliminary development plans call for complete renovation of the facility, and the installation of a restaurant, day spa and newsstand on the ground floor. Either hotel/studio rooms and suites or a corporate suite rental facility will occupy the second and third floors. James F. Perry & Co, a mortgage banking organization based here, provided $1.1 million in first mortgage financing to secure the acquisition via the company’s private pension group.— Stefani C. O’Connor
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