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| Aloft Miami-Brickell Hotel, Miami, FL |
Boca Raton, FL – Meridian Capital Group, LLC, a leading
national commercial real estate finance and advisory firm, negotiated a $17
million mortgage for the cash out refinance of the Aloft Miami-Brickell
hotel property located in Miami, FL.
The 10-year CMBS
loan features a competitive fixed-rate of 4.86% and interest-only payments for
the full-term.
This transaction was negotiated by Meridian Capital Group
Managing Director, Michael Brown, and Loan Originator, Brad Beattie,
who are both based in the Company’s Boca Raton, FL office.
The Aloft
Miami-Brickell hotel totals 160 rooms and is located at 1001 SW Second Avenue
in the financial district of Miami, FL. The property is conveniently located
with easy access to Downtown Miami, Brickell, Port of Miami, Miami Beach and
major attractions like American Airlines Arena and Bayside.
“The hotel has been
stabilized for six months,” said Mr. Brown. “Meridian created competition in
the market to distill down to those lenders with intimate knowledge of Miami’s
hospitality industry who could provide attractive financing, including
full-term interest-only payments, based on six months of operations and the
projected cash flows,” he added.
For a complete copy
of the company’s news release, please contact:
Jonathan Stern
Meridian Capital Group, LLC
212/972-3600
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