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Miami Grand Beach Hotel

$125,000,000  |  Miami Beach, FL

 

Background:

Developer/operator sought permanent refinance of 424-suite oceanfront boutique hotel in Miami Beach, built in 2009.

 

Challenges:

  • Oceanfront location was perceived as windstorm risk, in spite of recent state-of-the-art construction.

  • Offshore sponsorship required credible, flexible execution on an abbreviated timeline.

Solution:

  • With a thorough understanding of property cash flows, CHC carefully vetted major issues and timing needs with prospective capital sources at the outset.

  • Thanks to solid lender relationships, CHC delivered improved terms at key points in the transaction.

Outcome:

CHC structured and closed $125,000,000 loan on a 10-year term with 2 years of Interest Only.

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