Imperial Companies developed the Washington Avenue hotel
Let the good times roll. David Grutman and Pharrell Williams’ Goodtime Hotel scored a $164 million refinancing.
Washington Squared Owner LLC, an affiliate of Imperial Companies, secured the loan from CIM Group and J.P. Morgan Chase for the property at 601 Washington Avenue in Miami Beach, according to records and Eric Birnbaum, principal of Imperial Companies. The New York-based firm partnered with Williams and Grutman to open the 266-key hotel earlier this year.