Brookfield Properties Secures $210M Refinancing For The Ritz-Carlton Hotel In Key Biscayne

The Ritz-Carlton hotel in Key Biscayne, South Florida has secured a $210 million refinancing deal. This luxury oceanfront resort, located at 455 Grand Bay Drive, includes a condo component and spans an impressive 275,000 square feet. The property, currently owned by Brookfield Properties, was acquired by the company in 2022.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $210,000,000
• Address: 455 Grand Bay Drive - The Ritz-Carlton
• Market: Key Biscayne
• Asset Type: Hotel
• Keys: 302
• Square Footage: 275,000

This refinancing deal was made possible through the collaboration of the lenders, Citibank and MetLife Investment Management. Their involvement demonstrates the confidence and faith in the property's potential. Meanwhile, acting as the landlord in this transaction is Brian Kingston, representing Brookfield Properties.