The asset involved in this transaction is a hotel located at 5125 Northwest 36th Street in Miami Springs. It is leased long-term to B&B Hotels and is strategically positioned three miles from Miami International Airport. The hotel continues to attract strong demand due to its proximity to major transit hubs.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $12,097,000
• Loan Type: Refinance
• Loan Terms: 5-year
• Market: Miami Springs
• Broker: Robert Bhat - Marcus & Millichap Capital Corporation

This refinancing arrangement was secured from a national bank for a Miami-based investment firm and involves foreign national sponsors. Marcus & Millichap Capital Corporation played a key role in arranging the cash-out refinance, facilitating the transaction to enhance the financial position of the property.