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Credit Suisse Refinances Washington, D.C. Hotel And Miami Beach Property For $250M

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FINANCED
$250,000,000
Danny Matz
Dustin Stolly
+ 3

District Of Columbia

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Hotel
Financed 10/27/2021
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FINANCED

Credit Suisse Refinances Washington, D.C. Hotel And Miami Beach Property For $250M

St. Regis Hotels, 923 16th St Nw, Washington, District Of Columbia 20005, United States

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Hotel
Financed 10/27/2021
Danny Matz
Dustin Stolly
+ 3
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Summary

Asset Type:Hotel
Transaction Type:Loan

Hotel property located at 9703 Collins Avenue in Miami Beach, Florida and 923 16th Street NW in Washington, D.C. was recently involved in a loan transaction. The hotel consists of 388 keys and was refinanced for a loan amount of $250,000,000. The lender for this transaction was Credit Suisse. The landlord of the property is Sheikh Faisal Bin Qassim Al Thani, who represents Al Faisal Holding. The deal was facilitated by brokers Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Danny Matz, and Joe Morris of Newmark.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $250,000,000
  • Address: 9703 Collins Avenue & 923 16th Street NW
  • Market: Washington, D.C. & Miami Beach, Fla.
  • Keys: 388
  • Lender: Credit Suisse
  • Landlord: Sheikh Faisal Bin Qassim Al Thani - Al Faisal Holding
  • Brokers: Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Danny Matz, and Joe Morris - Newmark

The loan transaction involved various key individuals and companies. It is important to mention Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Danny Matz, and Joe Morris from Newmark who represented the buyer/seller/landlord/tenant in this deal. These individuals played a crucial role in facilitating the loan refinance for the hotel property.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Nick Scribani
Newmark
191 deals$55.1B volume(212) 372-2113
BROKER

Christopher (Chris) Kramer
Newmark
112 deals$21.8B volume(212) 850-5472
BROKER

Danny Matz
Newmark
28 deals$3.3B volume
BROKER

Joseph (Joe) Morris
Newmark
2 deals$450M volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Credit Suisse
LENDER

Details

FINANCED
IMAGE: Dustin Stolly, Jordan Roeschlaub, Danny Matz, Sheikh Faisal Bin Qassim Al Thani, Chris Kramer, Nick Scribani, & Joe Morris DATE: 10/27/2021 ADDRESS: 9703 Collins Avenue & 923 16th Street NW MARKET: Washington, D.C. & Miami Beach, Fla. ASSET TYPE: Hotel ~ KEYS: 388 LENDER: Credit Suisse LANDLORD: Sheikh Faisal Bin Qassim Al Thani - Al Faisal Holding BROKERS: Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Danny Matz & Joe Morris - Newmark LOAN AMOUNT: $250,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$250,000,000.00

Monthly NOI$1,666,666.67
Monthly Debt Service$1,580,170.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00