Soho Beach House Secures $140M Refi From JP Morgan Chase, Citi
It's a ten year fixed-rate interest-only loan that repaid the existing debt.
Soho Beach House in Miami Beach has secured $140 million to refinance its Miami Beach facility.
Situated in a 1940s tower overlooking Miami Beach, the club’s design is inspired by the city’s Art Deco and Cuban heritage, with a pool and ocean-facing rooftop among the highlights. The seven-story main building 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. Located in the heart of Mid-Beach, Soho Beach House is near Downtown Miami as well as the Miami International Airport, Bal Harbour Shops, and the Wynwood Arts and Design District.
Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, Ari Hirt, Triston Stegall, and David Kasten were advisors to Beach House Owner, LLC, a subsidiary of Soho House & Co. and brought in numerous financing options from investment banks, commercial banks, debt funds and life insurance companies. SHCO selected JPMorgan Chase Bank, N.A. and Citi Real Estate Funding Inc. for a ten year fixed-rate interest-only loan, which repaid the existing debt, repatriated equity, and covered financing and closing costs.