Blackstone Secures $205 Million Refinancing Loan From J.P. Morgan Chase For East Miami Hotel

The property asset involved in the transaction is a hotel located at 788 Brickell Plaza in Miami, FL. This hotel, known as the East Miami hotel, comprises 352 keys and has a total square footage of 536,070. The transaction is a refinancing deal amounting to $205 million, which represents the first known debt for the property since its acquisition in 2024 for approximately $300 million.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $205,000,000
• Lender: J.P. Morgan Chase
• Landlord: Nadeem Meghji & Stephen A. Schwarzman - Blackstone
• Market: Miami, FL
• Keys: 352
• Square Footage: 536,070
• Loan Type: Refinance

The individuals involved in the deal include Nadeem Meghji and Stephen A. Schwarzman, who represent Blackstone as landlords. The financing aligns with a recent trend of significant refinancing deals in South Florida, including a separate $115 million refinancing secured by J.P. Morgan for Blackstone's W Fort Lauderdale.