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Deals & Dealmakers

Florida condo tower owner gets $460M loan

On behalf of Fontainebleau Development, Newmark Knight Frank has arranged a $460 million floating-rate loan for the refinancing of the Turnberry Ocean Club, located in Sunny Isles Beach, FL. The Newmark Knight Frank team was led by Dustin Stolly and Jordan Roeschlaub, Vice Chairmen and Co-Heads of Debt & Structured Finance, along with Nick Scribani, Chris Kramer, and Brett Wilburn. The loan was provided by JP Morgan and Mack.

The Property is an iconic 54-story, contemporary, glass condominium tower, designed by celebrated architect Carlos Zapata and Robert Swedroe featuring 154 flow-through, waterfront condo residences with direct ocean and bay views. The Property boasts over 70,000 s/f dedicated to world-class amenities, including the signature Sky Club.

Located in Miami between Aventura and Bal Harbour, Sunny Isles is a place of world-renowned restaurants, nightclubs, theaters, cultural destinations and, most notably beaches.

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