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.