A team of Newmark Knight Frank debt specialists has arranged a$1.175 billion refinancing package for the iconic Fontainebleau Hotel in Miami
Vice chairmen and co-heads of Debt & Structured Finance, Dustin Stolly and Jordan Roeschlaub, along with Nick Scribani, Chris Kramer, Brett Wilburn and John Gallagher, worked with Fontainebleau Development to secure the loan from Goldman Sachs, Morgan Stanley and JP Morgan.
“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 Stolly.
The 1,594 key, AAA Four Diamond beachfront luxury hotel and resort designed by Morris Lapidus is located on over 15 acres of oceanfront in Miami, features 11 pools, a 40,000 s/f spa and 12 food and beverage venues, including LIV, a globally recognized night club.
It is comprised of four unique towers; the 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 an icon of Miami with an unmatched amenity base that keeps people visiting from all over the world,” said Roeschlaub.