The famed Shore Club, located at 1901 Collins Avenue in Miami Beach, has secured an unprecedented $430 million construction loan from JP Morgan. The luxury condo and hotel property will undergo further development and enhancement with the help of this substantial financing. This loan will pave the way for a significant transformation of the Shore Club, ensuring its continued prominence in the Miami Beach market.

Summary of transaction details:

• Property Type: Luxury Condo and Hotel
• Loan Amount: $430,000,000
• Loan Type: Construction
• Lender: JP Morgan
• Landlord (Representatives): Kyle Asher (Monroe Capital), Alex Witkoff (Witkoff)
• Capital Advisor: Faisal Ashraf (Lotus Capital)

Lotus Capital Partners, serving as the exclusive advisor to The Witkoff Group and Monroe Capital, arranged and structured this monumental loan from JP Morgan. This transaction highlights the expertise of Lotus Capital in securing significant financing for notable real estate projects. With the assistance of their capital advisor, Faisal Ashraf, The Witkoff Group and Monroe Capital have solidified a financial partnership that will fuel the redevelopment of the Shore Club.