$125,000,000 | Miami Beach, FL
Developer/operator sought permanent refinance of 424-suite oceanfront boutique hotel in Miami Beach, built in 2009.
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.
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.
CHC structured and closed $125,000,000 loan on a 10-year term with 2 years of Interest Only.