MetLife Investment Management And MDM Group Secure $79.3M Refinance Loan For JW Marriott Marquis Miami

The asset involved in the transaction is a hotel located at 255 Biscayne Boulevard Way in Miami, featuring 357 keys. The property secured a refinance loan amounting to $79,300,000. The hotel is known as the JW Marriott Marquis Miami, which recently underwent a $16 million renovation in 2023, with plans for further enhancements in 2026.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $79,300,000
• Lender: Josh Zegen & Brian Shatz - Madison Realty Capital; Neil Luthra - Newbond Holdings
• Landlord: Michel A. Khalaf - MetLife Investment Management; Ricardo Glas & Luis Pulenta - MDM Group
• Brokers: Paul Stasaitis, Kevin Davis, Mark A. Fisher & Henry Winchester - JLL
• Market: Miami
• Keys: 357

The refinancing deal was arranged by JLL, ensuring financial support for the property post-renovation and contributing to future development intentions. The key individuals associated with the deal highlight a collaboration between various firms and stakeholders in the hospitality sector.