Fortress Investment Group Provides $263 Million Refinance For Tarek El Sayed's St. Regis Bal Harbour Resort

The asset involved in this transaction is the St. Regis Bal Harbour Resort, a hotel located at 9703 Collins Avenue in Bal Harbour, Florida. The property consists of 213 keys and is situated oceanfront. The refinancing amount associated with this asset is $263 million, which includes the assumption of $188 million of existing debt and an addition of $70 million in new debt.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $263,000,000
• Lender: Fortress Investment Group
• Landlord: Tarek El Sayed - Al Rayyan Tourism Investment Company (ARTIC)
• Loan Type: Refinance
• Market: Bal Harbour, FL
• Address: 9703 Collins Avenue
• Asset Keys: 213

This refinancing transaction involved Fortress Investment Group providing financial support to ARTIC for the St. Regis Bal Harbour Resort. The refinancing action assisted in moving the resort out of CMBS special servicing nearly a year after the previous loan was transferred, as it was approaching maturity and facing weaker cash flow conditions.