On behalf of Fontainebleau Development, Newmark Knight Frank has arranged a $1.175 billion fixed-rate loan for the refinancing of Fontainebleau Miami Beach, located in Miami Beach, Fla.
The loan was provided by Goldman Sachs, Morgan Stanley and JP Morgan.
The Fontainebleau is an iconic 1,594-key, AAA Four Diamond beachfront luxury hotel and resort designed by the legendary Morris Lapidus. The property, which is prominently located on over 15 acres of premier oceanfront in Miami, features 11 pools, a 40,000-square-foot spa and 12 renowned food & beverage venues, including LIV, a globally recognized night club.
Located directly on an irreplaceable stretch of Miami beachfront, the Fontainebleau is comprised of four unique towers, the legendary curved Chateau Tower, the Versailles Tower, the Sorrento Tower and the Tresor Tower. The landmarked Chateau and Versailles buildings are the newly renovated hotel buildings comprised of 846 rooms, with the Tresor and Sorrento buildings comprised of 748 condo hotel units.
“The Fontainebleau remains the premier destination in Miami Beach with not only best-in-class rooms, but world-renowned F&B and night life outlets. Fontainebleau Development has done a remarkable job of investing the capital needed to maintain the iconic resort’s quality and historic brand,” said Dustin Stolly, Newmark Knight Frank vice chairman and co-heads of debt & structured finance.
“Located directly on the oceanfront, the Fontainebleau remains an icon of Miami with an unmatched amenity base that keep people visiting from all over the world,” added Jordan Roeschlaub, Newmark Knight Frank vice chairman and co-heads of debt & structured finance.
Fontainebleau Development is one of the country’s premiere real estate development and hospitality groups with a diverse array of hospitality, retail, residential, commercial and luxury service assets. Fontainebleau Development’s portfolio includes properties in the hospitality, residential, retail and luxury services sectors including premiere assets in addition to the Fontainebleau Miami Beach, such as the JW Marriott Turnberry Resort & Spa, the JW Marriott Nashville, Hilton Downtown Nashville, SoLeMia Miami and numerous residential landmarks such as Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita and Tresor and Sorrento Towers at Fontainebleau Miami Beach. Luxury services include Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club and some of the highest grossing and well-known food, beverage and wellness destinations in the world.
