Real Estate Weekly
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Debt & Equity

Reuben Brothers acquires $132M St Regis mortgage

Reuben Brothers has acquired a $132 million mortgage from Mack Real Estate for the senior loan behind the St. Regis Bal Harbour.

Adam Spies, Jared Kelso, Dan O’Brien and Steve Michaels of Cushman & Wakefield represented Mack Real Estate in the note sale.

The loan was issued in 2018 and has a four-year term with a one-year extension option.

The 27-story hotel includes 192 rooms and 24 condo-hotel units, and has been owned by Al Rayyan Tourism Investment Company since 2014.

It is the second Miami deal for the British-based private equity and investment firm led by David and Simon Reuben in as many months.

In September, the company acquired a 25 percent stake in the JW Marriott Miami Turnberry Resort & Spa from Jeffrey Soffer’s Fontainebleau Development.

The hotel property is one of the largest in South Florida, featuring 685 hotel rooms and a 36-hole golf course. Reuben Brothers and Fontainebleau Development are reportedly exploring additional partnerships on investments.

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