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| Holiday Inn Miami Beach, 4333 Collins Avenue, Miami Beach, FL |
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| Jacob Schmuckler |
New York, NY – Meridian
Capital Group, America’s most active deal maker, arranged $26 million in CMBS
financing to refinance the Holiday Inn
Miami Beach – Oceanfront in Miami Beach, FL.
The 10-year CMBS loan
features full-term interest-only payments. This transaction was negotiated by
Meridian Managing Directors, Jacob
Schmuckler and Steve Adler, who
are both based in the company’s New York City headquarters.
The Holiday Inn Miami
Beach - Oceanfront is an eight-story hotel, located at 4333 Collins Avenue in
Miami Beach, FL. The 253-room oceanfront hotel was completely renovated in 2009
and transformed into a contemporary-style property, including a pool area with
a Tiki bar and manicured garden areas with hammocks.
Amenities include an
on-site bar and restaurant, a fitness center, conference and banquet rooms, a
business center and a laundry facility. Guests enjoy direct access to a wide
stretch of Miami’s beaches, as well as the Miami Beach Boardwalk, which offers
a variety of restaurants, shopping, nightlife and golf clubs.
“The Holiday Inn’s central
location and various on-site and community amenities attract both tourists and
business travelers,” said Mr. Schmuckler. “The sponsor has owned the hotel for
over 20 years, along with several nearby properties,” he added. “Their strong
performance record, as well as the property’s recent renovations, demonstrated
promising upside potential to the lender and Meridian was able to negotiate
favorable terms.”
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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