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Florida & Gulf Coast  + South Florida  + Hospitality  |  October 7, 2019
David Cohen
By: David Cohen

NorthMarq Secures $16M Refinancing for Hilton Bentley Beach in Miami

NorthMarq’s Jacksonville office secured a $15.5-million loan to refinance Hilton Bentley Beach Retail in Miami. Ryan Whitaker of NorthMarq secured the 10-year, interest-only financing on behalf of the undisclosed borrower through a CMBS lender.

The 109-room condo hotel is located at 101 Ocean Dr. in Miami Beach, and is part of the Hilton reservation system. The property also includes 18,575 square feet of commercial space, which consists of retail space, common area amenities and a parking garage.

“This was a very sophisticated transaction, representing an excellent oceanfront location in South Beach,” said Whitaker. “Some of the challenges that we faced were insurance, value and the condo structure.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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