(Read more on the debt and equity markets.)

MIAMI-The 641-room InterContinental Miami hotel at 100 Chopin Plaza has received $26 million in mezzanine refinancing. The financing was provided by New York City-based Pembrook Capital Management. The loan is a floating-rate indexed off of one-month Libor and matures in October 2008 with three one-year extension options. The financing will be used to repay existing debt.

The 34-story four-start hotel, owned and managed by Strategic Hotels & Resorts and InterContinental Hotels Group, overlooks the Biscayne Bay in the Seaport section of downtown Miami. It is currently undergoing a $15 million renovation to add a health spa and fitness center and make other improvements.

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