FINANCED
Cronheim Hotel Capital Arranges $85M Refinance Loan For Grand Beach Hotel Miami Beach
4835 Collins Avenue - Grand Beach Hotel
Hotel
Financed 277 days ago
Summary
Loan
FLORIDA
Hotel
The Grand Beach Hotel in Miami Beach has secured an $85 million loan for refinancing. The 424-room hotel, located at 4835 Collins Avenue, is currently undergoing renovations. The loan was obtained from an unnamed life insurance company, with Cronheim Hotel Capital (CHC) serving as the broker representative for the transaction.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $85,000,000
- Address: 4835 Collins Avenue, Miami Beach
- Market: Miami Beach
The loan provided for the Grand Beach Hotel's refinancing is a five-year loan with a fixed interest rate. Throughout the full term, the borrower will make interest-only payments. The deal was facilitated by the brokers David Poncia, Dev Morris, Allison Villamagna, and Andrew Stewart from Cronheim Hotel Capital.
Players
Details
FINANCED
IMAGE: Allison Villamagna, Andrew Stewart & David Poncia
DATE: 08/02/2023
ADDRESS: 4835 Collins Avenue - Grand Beach Hotel
MARKET: Miami Beach
ASSET TYPE: Hotel ~ KEYS: 424
BROKERS: David Poncia, Dev Morris, Allison Villamagna & Andrew Stewart - Cronheim Hotel Capital
LOAN AMOUNT: $85,000,000
LOAN TYPE: Refinance
LOAN TERMS: five-year loan features a fixed interest rate and interest-only payments for the full term
NOTE: Cronheim Hotel Capital (CHC) arranged an $85 million loan for the refinancing of the 424-room Grand Beach Hotel in Miami Beach. The unnamed borrower, currently renovating the property, obtained the financing through an unnamed life insurance company.View on map
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Address4835 Collins Avenue - Grand Beach Hotel
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