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Walker & Dunlop Secures $140 Million Refi for Miami Beach’s Soho Beach House
Walker & Dunlop, Inc. arranged $140 million in loan proceeds to refinance Soho Beach House, a private members club and hotel in Miami Beach.
Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, Ari Hirt, Triston Stegall, and David Kasten were exclusive advisors to Beach House Owner, LLC, a subsidiary of Soho House & Co. (SHCO). The team brought numerous financing options to SHCO, which selected JPMorgan Chase Bank, N.A. and Citi Real Estate Funding Inc. for a favorable 10-year fixed-rate interest-only loan, which repaid the existing debt, repatriated equity, and covered financing and closing costs.
The club’s design is inspired by the city’s Art Deco and Cuban heritage, The modernized seven-story main building has a pool and ocean-facing rooftop. It includes 35 suites and has dedicated amenity space on the first three floors, while the 16-story beachfront tower offers 15 full-floor suites with wrap-around private terraces and ocean views.
- ◦Financing