Miami Beach EDITION lands $180M refinancing
JLL’s Hotels & Hospitality Group led financing efforts for the flagship luxury resort in the heart of Miami Beach, which is a top market for hospitality investors
MIAMI, Nov. 15, 2021 – JLL’s Hotels & Hospitality Group announced today that it has arranged $180 million in financing for the ultra-luxury, 294-key Miami Beach EDITION hotel in Miami Beach, Florida.
The Miami Beach EDITION pairs the intimacy and style of a boutique hotel with the amenities of a luxury resort. Redesigned in 2014, the resort offers traditional guest rooms and suites, including 28 private bungalows and a rooftop penthouse, and direct access to 380 linear feet of beachfront. Guests enjoy two outdoor pools with lush gardens, a high-end fitness facility, state-of-the-art spa and BASEMENT, an undergound nightclub with a bowling alley and ice skating rink. The resort is also home to a private oceanfront beach club with approximately 300 active members and offers three high-end food and beverage outlets, Matador Room/Bar, Market at EDITION, and Tropicale and Lobby Bar.
Located at 2901 Collins Ave., the Miami Beach EDITION occupies a 3.5-acre site in a coveted location between Collins Ave. and the Atlantic Ocean. Miami Beach continues to be a top leisure destination in the United States hosting domestic and international travelers for events such as Art Deco Weekend, Ultra Music Festival and the Art Basel.
The JLL Hotels & Hospitality team representing the borrower was led by Senior Managing Director Kevin Davis and Senior Vice President Barnett Wu.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.