Newmark Arranges $1.75B Refinancing for Two Iconic Miami Resorts

The Newmark Group arranged $1.2 billion and $550 million loans on behalf of Fontainebleau Development for the refinancing of  South Florida resorts Fontainebleau Miami Beach and the JW Marriott Miami Turnberry Resort & Spa. Newmark’s Jordan Roeschlaub, Jonathan Firestone, Nick Scribani, Tyler Dumon and John Caraviello secured the financing from Goldman Sachs and J.P. Morgan on both transactions.

The Fontainebleau Miami Beach opened in 1952 and just delivered a newly built convention center in December 2024. The hotel spans over 22 acres and boasts 1,594 guest rooms across four distinct towers. It offers amenities such as full-service beachfront access, 11 pools with luxury cabanas, nine food and beverage outlets, three nightlife and lounge venues, 200,000 square feet of existing meeting and event space and a 40,000-square-foot spa that includes a 5,800-square-foot fitness center.

The JW Marriott Miami Turnberry Resort & Spa opened in 1967, and recently underwent an extensive renovation and expansion in 2019. The 270-acre resort includes 685 guest rooms, two golf courses with a private country club, 120,000 square feet of versatile meeting and event space, six restaurants and lounges, a waterpark and a 25,000 square-foot spa.