JP Morgan And Citibank Refinance Soho House Hotel In Miami Beach For $140M
4385 Collins Ave Miami Beach, FL 33140, USA
$140,000,000
$1,464/SF
Building Size
95,596 SF
Asset Type
Hotel
Closing
May 15, 2023
About this deal
AI
The hotel located at 4385 Collins Avenue in Miami Beach has recently undergone a refinancing transaction. The property, which spans approximately 95,596 square feet, is owned by Soho House.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $140,000,000
- Address: 4385 Collins Avenue, Miami Beach
- Market: Miami Beach
The lenders involved in the refinancing deal were JP Morgan and Citibank. Walker & Dunlop served as the broker in the transaction, with Aaron Appel, Adam Schwartz, Ari Hirt, Jonathan Schwartz, and Keith Kurland representing the firm.
On the Map
$140,000,000
$1,464/SF
Hotel
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Players
Miami Beach Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93