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News release


Luxury Hotel in Thriving Miami Market Is Major Lure for Lenders

JLL secures $250 million in refinancing for 1 Hotel South Beach

MIAMI, Oct. 27, 2015 – On behalf of a joint venture between Starwood Capital Group, LeFrak and Invesco Real Estate, JLL today announced the firm has secured a $250 million in refinancing for 1 Hotel South Beach, which opened in March after a complete renovation. The luxury, eco-conscious hotel is located in the heart of South Beach, Miami’s popular destination and the first of three hotels being developed as part of Starwood Capitals and management company, SH Groups, launch of the “1 Hotel” brand. Deutsche Bank provided the loan.
Managing Directors Dustin Stolly and Gregory Rumpel and Senior Vice Presidents Mike Huth and Brett Rosenberg led the JLL team on the transaction.
“This brand new property is located in the highly coveted South Beach submarket and is backed by best-in-class sponsorship and management,” said Stolly. “We saw an incredible amount of interest from the lending community to finance this hotel.”
Added Rumpel, “Miami is one of the top performing lodging markets in the country right now. Given its strong fundamentals and numerous demand drivers, many investors and lenders are seeking presence in the market.”
The 4.5-star property hotel totals 426 rooms and features four elevated swimming pools; a spa and fitness center; private beach access; sweeping views; the Beachcraft Restaurant, a farm-to-table establishment operated by celebrity chef Tom Colicchio; and an STK Steakhouse. The location will welcome the first Soul Cycle in South Beach in early 2016.
The 1 Hotel brand is SH Groups eco-friendly, luxury hotel concept and is built to LEED-certification standards.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor in the world, totaling US$51 billion over the last five years. Between negotiating deals, the group’s 340-strong global team also executed 4,600 advisory, valuation and asset management assignments. The firm is recognized as the global leader in real estate services across hospitality properties from luxury, upscale, select service and budget hotels to timeshare and fractional ownership properties, convention centers and mixed-use developments. Investors and owner/operators worldwide turn to JLL to shape their investment strategies and maximize the value of their assets and JLL’s expert advice is backed by industry-leading research.

For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit:, download the Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit