Stephen A. Schwarzman Of Blackstone Secures $115 Million Refinancing For W Fort Lauderdale Hotel

The W Fort Lauderdale hotel, located at 401 North Fort Lauderdale Beach Boulevard in Fort Lauderdale, FL, is a 19-story asset comprising 567,524 square feet and features 346 rooms. The property was refinanced for $115 million, following its acquisition by Blackstone for $153 million less than two years earlier. Significant renovations totaling approximately $55 million were completed on the hotel prior to Blackstone’s ownership.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $115,000,000
• Address: 401 North Fort Lauderdale Beach Boulevard
• Market: Fort Lauderdale, FL
• Landlord: Stephen A. Schwarzman - Blackstone
• Lender: J.P. Morgan Chase
• Keys: 346

J.P. Morgan Chase provided the refinancing loan, facilitating the financial restructuring for the property following its significant renovation and acquisition phases. The involvement of Stephen A. Schwarzman as the landlord represents Blackstone's strategic focus on enhancing its portfolio through key assets in desirable locations.