MV Real Estate Holdings and Driftwood Capital Announce Joint Venture on $185M Riverside Wharf in Downtown Miami
and exciting entertainment from day-to-night.
The waterfront hospitality-centric complex will feature a 165-key Dream Hotel, multiple food, beverage, and entertainment venues, and a deep-water yacht marina along the Miami River in Downtown Miami.
MIAMI – December 21, 2021 – Miami Developer Alex Mantecon of MV Real Estate Holdings (MVREH), in conjunction with Driftwood Capital, one of the country’s leading hospitality sponsors, is pleased to announce the Riverside Wharf, a hospitality-driven entertainment complex situated along the historic Miami River that will push the limits of what is known today as hospitality in Miami. The 200,000-square-foot, two-tower development will offer a fully immersive Miami experience anchored by the highly amenitized 165-key Dream Miami luxury hotel. The complex will feature the rebirth and expansion of The Wharf Miami,16,000 square feet of signature restaurants, a 12,000-square-foot event hall, a world-class 30,000-square-foot nightclub and rooftop dayclub, and a private marina capable of accommodating megayachts.
“Riverside Wharf will be a destination for entertainment unlike any Miami has seen, bringing together world-class entertainment and hospitality offerings to a unique waterfront destination with direct Intracoastal access to the ocean,” said Mantecon. “We are excited to finally bring to fruition the dream and vision Miami has had for its riverfront entertainment district which until now has historically sat vacant and underutilized.”
“Miami is a top international destination for world-class hospitality and entertainment, and continues to set the bar with exciting new experiences for travelers unlike anything else in the world,” said Mayor of Miami Francis Suarez. “Dream Miami at Riverside Wharf will be an unparalleled development in the heart of Miami for visitors and locals alike, and I couldn’t be more excited to see it become a reality.”
At 10 stories, the $185 million mixed-use development will rise on the current site of The Wharf Miami and the abutting vacant parcel. The 1.5-acre assemblage is the culmination of the vision established in the City of Miami’s 2016 voter referendum approval, obtained by MVREH, for the development of food and beverage establishments along the waterfront. The roughly 600 linear feet of water frontage will provide for the continuity of the publicly accessible Riverwalk, seamlessly connecting Riverside Wharf between Downtown Miami and Brickell. Riverside Wharf will take on the benefits of MVREH and Driftwood Capital’s best-in-class partners, including Dream Hotel Group’s growing success in highly amenitized luxury food and beverage oriented hotel properties, and Breakwater Hospitality Group’s ongoing success of high-volume entertainment venues.
Live music, lifestyle programming and themed installations will provide unparalleled entertainment on race day and beyond. Life-size games will be a nostalgia touchpoint for adults while keeping the little ones entertained. Tastemakers will love the Instagram worthy elements and photogenic environment, allowing them to share content in real-time. Partnerships for revolving culinary pop-ups will appeal to every appetite. Each visit will never be the same, captivating locals and tourists alike to return again and again.
“There is a natural synergy between Dream Hotel Group and the city of Miami,” said Dream Hotel Group CEO Jay Stein. “Our founding lifestyle brand Dream Hotels continues to expand quickly, just like Miami, offering international hospitality, vibrant entertainment and one-of-a-kind lifestyle experiences sought by residents, as well as business and pleasure travelers from across the globe. As an authentic and progressive hospitality brand, it is inherent that we share in the revitalization of this developing district in an iconic American city. We are thrilled to take part in this extraordinary project and can’t wait to open our doors in 2025.”
Added Carlos Rodriguez Sr., CEO of Driftwood Capital, “As Miami continues to attract new capital, new world-class tech and financial firms, and new talent from other parts of the country, the demand for one-of-a-kind destinations combining elements of luxury, nature, outdoor adventure and unique dining experiences is poised to escalate rapidly. We’re pleased to be able to contribute several decades of hospitality development and operational expertise to this truly unique development which will enhance Miami’s skyline and elevate the entire Miami River District.”
Riverside Wharf will transform the storied Miami River district while paying homage to the historic fishing culture of the neighborhood by celebrating the area’s beloved Garcia’s Fish Market with a pop-up seafood market on the grounds, where locals can get the freshest catch daily. The development is slated to break ground in 2022 and be completed by 2025. It is designed by Jon Cardello of Cube3 architects with landscape design by Savino-Miller Design Studio.
MV Real Estate Holdings
Founded in 2008 by Alex Mantecon and Guillermo Vadell, MV Real Estate Holdings, LLC (“MVREH”) is a multifaceted real estate investment and development firm specializing in the acquisition and development of complex and unique projects. With over 200 transactions since its inception, MVREH has distinguished itself with marquee projects within downtown Miami (the East Coast Building, The Wharf Miami) and multiple projects along the Ludlam Trail (Altis Ludlam Miami & Ludlam Trail Towers). MVREH’s portfolio includes holdings across multiple asset classes including self-storage, multifamily, and hospitality.
About Dream Hotel Group
Dream Hotel Group is a hotel brand and management company with a rich, 35-year history of managing properties in some of the world’s most highly competitive hotel environments, including New York, Los Angeles, Miami, Bangkok and most recently Nashville. Home to its Dream Hotels, Unscripted Hotels, The Chatwal and new By Dream Hotel Group brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management, and Dining & Nightlife. The company is committed to the philosophy that forward-thinking design, service and guest experiences should be available across all market segments. Dream Hotel Group is dedicated to offering travelers an authentic connection to their chosen destination through a truly original approach.
About Driftwood Capital
Driftwood Capital is one of the country’s leading hospitality sponsors. A vertically integrated commercial real estate firm with investment, development, lending and management platforms, Driftwood’s unique business model provides accredited investors access to institutional-quality hotel assets or capital solutions on a direct deal basis following deal closing. Since its inception, Driftwood Capital has transacted on more than $3 billion in hospitality assets, including new ground-up hotel development projects, cash-flowing hotels and hotel-backed loans, backed by an international network of more than 1,200 investors. Driftwood’s in-house team of experts oversee deal sourcing, underwriting, financing, asset management, operations, development and legal issues, ensuring a total alignment of interests with investors. For more information, visit driftwoodcapital.com.
About Breakwater Hospitality Group
Breakwater Hospitality Group is a multi-concept food and beverage investment and operations firm based in Miami, Florida. Founded in 2018 by Emi Guerra and Alex Mantecon, Breakwater’s concentration on quality beverages and cuisine transcends dining into memorable spaces with unforgettable locations, culminating in community social hubs. Currently, Breakwater Hospitality Group operates The Wharf Miami, The Wharf Fort Lauderdale, Rivertail, CH’I in Brickell, The Piefather, and in 2022 will open JohnMartin’s, Pier 5, and Carousel Club.