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Jeff Soffer And Brett Mufson Of Fontainebleau Development Secure $1.2B Refinance Loan For Hotel In Miami Beach

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FINANCED
$1,200,000,000
Jordan (Jordy) Roeschlaub
Nick Scribani
+ 2

Florida

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Hotel2,000,000 SF
Financed 12/06/2024
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Property Image
FINANCED

Jeff Soffer And Brett Mufson Of Fontainebleau Development Secure $1.2B Refinance Loan For Hotel In Miami Beach

4441 Collins Avenue

See Similar Deals
Hotel2,000,000 SF
Financed 12/06/2024
Jordan (Jordy) Roeschlaub
Nick Scribani
+ 2
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$600
Total Square Footage:2,000,000 SF
Transaction Type:Loan

The property asset involved is a hotel located at 4441 Collins Avenue in Miami Beach. The asset has 1,594 keys and spans a total area of 2,000,000 square feet. The loan amount secured for this property is $1,200,000,000, classified as a refinance.

Summary of transaction details:

Key individuals involved in the transaction include David Solomon and Jamie Dimon representing the lending institutions, while Jeff Soffer and Brett Mufson represent the landlord. The landlord's representation is provided by a team from Newmark, consisting of Jordan Roeschlaub, Jonathan Firestone, Nick Scribani, Tyler Dumon, and John Caraviello.

Players

Nick Scribani
192 deals$55.2B volume(212) 372-2113
BROKER

Tyler Dumon
Newmark
22 deals$3.7B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
322 deals$96.3B volume
BROKER

Jonathan Firestone
Newmark
38 deals$10.5B volume(310) 709-4910
BROKER

John Caraviello
Newmark
22 deals$10.8B volume
BROKER

Goldman Sachs
LENDER

Details

FINANCED
IMAGE: Jeff Soffer, Nick Scribani, Jordan Roeschlaub, David Solomon, Brett Mufson, Jamie Dimon, Tyler Dumon, John Caraviello & Jonathan Firestone DATE: 12/06/2024 ADDRESS: 4441 Collins Avenue MARKET: Miami Beach ASSET TYPE: Hotel ~ KEYS: 1594 ~ SF: 2,000,000 LENDER: David Solomon (@DavidSolomon) - Goldman Sachs (@GoldmanSachs); Jamie Dimon - JP Morgan (@JPMorgan) LANDLORD: Jeff Soffer & Brett Mufson (@BMufson) - Fontainebleau Development (@FontainebleauDevelopment) LANDLORD'S REP: Jordan Roeschlaub (@JordyRoeschlaub), Jonathan Firestone, Nick Scribani (@ScribSays), Tyler Dumon (@TylerwDumon) & John Caraviello - Newmark (@Newmark) LOAN AMOUNT: $1,200,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,200,000,000.00

Monthly NOI$8,000,000.00
Monthly Debt Service$7,584,816.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00