Witkoff And PPG Development Secures $333 Million Loan For Auberge Branded Hotel And Residences In Hallandale Beach

The property involved in this transaction is the Auberge Branded Hotel & Residences located at 501 Diplomat Parkway, Hallandale Beach, FL 33009. The asset consists of 60 keys and 105 units spread across more than 130 acres. It is part of a luxury hospitality residential golf resort development known as Shell Bay, which includes an 18-hole golf course, a practice facility, and extensive amenities.

Summary of transaction details:

• Property Type: Auberge Branded Hotel & Residences
• Transaction Amount: $333,000,000
• Market: Hallandale Beach, FL
• Lender: Jamie Dimon - JP Morgan; Jason Kollander - MSD Capital
• Landlord: Steve & Alex Witkoff - Witkoff; Ari Pearl - PPG Development
• Capital Advisor: Faisal Ashraf - Lotus Capital Partners
• Loan Type: Development Financing
• Financing Terms: Two-tiered, three-lender financing package

This transaction features notable figures including Jamie Dimon and Jason Kollander representing the lending entities, while Steve and Alex Witkoff, along with Ari Pearl, are involved as landlords. Faisal Ashraf served as the Capital Advisor and facilitated the financing arrangement, which aims to successfully complete the luxury resort development.