MG Developer Closes $23 Million Refinance With Interaudi Bank For Regency Miami Airport Hotel

The asset involved in this transaction is the Regency Miami Airport by Sonesta, a hotel featuring 176 keys located at 1000 Northwest 42nd Avenue in Miami. The transaction involved a refinancing loan amount of $23,000,000, focusing on enhancing the capital structure for the property. The hotel is a five-story building situated in the Miami market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $23,000,000
• Lender: Interaudi Bank
• Landlord: Alirio Torrealba - MG Developer

The deal involves MG Developer, represented by Alirio Torrealba, securing a refinancing arrangement from Interaudi Bank to optimize the financial structure of the hotel. The refinancing presents opportunities for future development on available land, particularly as the surrounding Miami Airport submarket is poised to benefit from new developments, including Miami Freedom Park and Inter Miami CF’s upcoming stadium complex.