A new event and convention center is set to rise in Miami Beach, thanks to a $72.8 million construction loan from Goldman Sachs Bank. The development site, located at 4360 & 4370 Collins Avenue, is owned by Fontainebleau Development, led by Jeffrey Soffer. The five-story center will be connected to the Fontainebleau Miami Beach hotel and will feature ballrooms, breakout rooms, and a roof deck. It is estimated to be completed in 2025.

Summary of Transaction Details

• Property Type: Development Site
• Loan Amount: $72,800,000
• Loan Type: Construction
• Lender: Goldman Sachs - David M. Solomon
• Landlord: Fontainebleau Development - Jeffrey Soffer

The key individuals and companies involved in this deal are David M. Solomon from Goldman Sachs Bank, who serves as the lender's representative, and Jeffrey Soffer, the owner of Fontainebleau Development. This collaboration between the lender and the landlord will bring forth a new world-class event and convention center to Miami Beach.