Advertisement
UK markets close in 20 minutes
  • FTSE 100

    7,964.87
    +32.89 (+0.41%)
     
  • FTSE 250

    19,895.36
    +84.70 (+0.43%)
     
  • AIM

    743.77
    +1.66 (+0.22%)
     
  • GBP/EUR

    1.1698
    +0.0029 (+0.25%)
     
  • GBP/USD

    1.2629
    -0.0009 (-0.07%)
     
  • Bitcoin GBP

    56,120.24
    +1,446.34 (+2.65%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,252.11
    +3.62 (+0.07%)
     
  • DOW

    39,778.16
    +18.08 (+0.05%)
     
  • CRUDE OIL

    82.60
    +1.25 (+1.54%)
     
  • GOLD FUTURES

    2,234.70
    +22.00 (+0.99%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,496.02
    +18.93 (+0.10%)
     
  • CAC 40

    8,210.47
    +5.66 (+0.07%)
     

HFF arranges $157 million construction financing for the SLS Brickell Hotel and Residences in Miami

MIAMI, FL, December 1, 2014 - HFF announced today that it has secured a $157 million construction financing for the SLS Brickell Hotel and Residences, a 51-story mixed-use hotel and condominium tower in downtown Miami.

HFF worked exclusively on behalf of the developers, a joint venture between Related Group and sbe Hotel Group (sbe) to secure the $157 million loan through Canyon Capital Realty Advisors.

SLS Brickell Hotel and Residences is situated on a 1.3-acre site at 1300 South Miami. Due for completion in 2016, the property will contain 453 SLS-branded condominium residences and 124 SLS hotel keys in addition to three luxury restaurants. World-renowned creator and architect Phillipe Starck is designing the hotel`s interiors, which will feature a gym, spa, pool deck with separate hotel and residence areas, a 6,000-square-foot ballroom, 2,000 square feet of meeting space, roof-top pool and outdoor roof-top dining, and a triple-height drop off area with valet parking.

The HFF team was led by executive managing director Manuel de Zárraga, director Max Comess and associate director Scott Wadler.

"The financing of the SLS Brickell is a significant development that underlines the market`s confidence in the depth of the Brickell neighborhood and the future of the downtown hotel market," Comess said. "The project represents the first stand-alone, mixed-use hotel and branded-residential tower to be capitalized off the beach in Miami this cycle."

HFF`s Hotel Group has been active in the sale and financing of similar hotels across the country. In the first three quarters of 2014, the firm financed or sold 74 hotels and resorts with total transaction volume totaling nearly $1.98 billion. The group is presently involved in numerous Florida Keys and South Florida hotel and resort transactions.

Led by founder, chairman and CEO Jorge M. Perez, The Related Group (Related) is one of the nation`s leading developers of condominiums and multi-family residences. Since its founding more than a quarter of a century ago, Related has developed more than 80,000 apartment and condominium residences and is one of the largest privately-owned companies in Florida.

sbe is a global hospitality and entertainment company helmed by visionary founder, chairman and CEO Sam Nazarian, which comprises a thriving collection of award-winning hotels, casinos, residences, restaurants and nightlife destinations, including the SLS South Beach, Beverly Hills and most recently, Las Vegas.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:
MANUEL DE ZARRAGA
HFF Executive Managing Director
(305) 448-1333
mdezarraga@hfflp.com

MAX COMESS
HFF Director
(305) 448-1333
mcomess@hfflp.com

SCOTT WADLER
HFF Associate Director
(305) 448-1333
swadler@hfflp.com

ADVERTISEMENT

KRISTEN MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HFF, Inc. via GlobeNewswire

HUG#1875856