Berkadia Secures $45.9M Loan to Refinance Hampton Inn & Suites Brickell in Miami, Florida
MIAMI, FL – July 10, 2024 – Berkadia announces the refinancing of Hampton Inn & Suites, a 221-key hotel with ground floor retail in the heart of Miami’s Brickell neighborhood. Managing Director Saul Hoppenstein and Associate Director James Elmore of Berkadia Boca Raton secured a $45.9 million loan on behalf of the sponsor, Miami-based Hospitality Operations, Inc., a hotel development company specializing exclusively in hospitality.
The lender, a life insurance company, provided the five-year, fixed-rate loan with full-term interest only at an attractive interest rate.
“Despite a challenging capital markets landscape, Berkadia continues to play a key role in fostering the growth of Miami’s hospitality sector by securing financing for clients with competitive terms,” said Hoppenstein.
Located at 50 Southwest 12th Street and built in 2011, Hampton Inn & Suites Brickell features 221 rooms equipped with queen-size or king-size beds, a flat-screen TV, complimentary Wi-Fi, and more. Amenities include a parking garage, rooftop pool, fitness center, on-site restaurant, meeting rooms, and more.
Located in the heart of Miami’s financial district, the property offers easy access to north and southbound Interstate 95, the Brightline commuter train station, Miami-Dade County Metrorail, and free Metromover, and is just minutes from upscale shopping, dining, and entertainment in Brickell City Centre, Miami Heat Arena, Bayfront Park, Brickell Key, and more.
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