CBRE Arranges $120.1 Million Loan For Purchase Of Part Of $1.1 Billion Brickell City Centre

CBRE has arranged a $120.1 million loan for the $174 million purchase of the EAST Miami hotel to a joint venture between funds managed by Honolulu-based Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC (“Trinity”), and New York-based private equity firm Certares Real Estate Management LLC. The hotel is part of Brickell City Centre, a $1.1 billion mixed-use development that was completed in 2016.

The CBRE Hotels Debt & Structured Finance team of Mark Owens, John Avanzino and Estelle Wang facilitated the debt financing with leading global alternative investment firm Värde Partners on behalf the buyer. Christian Charre and Paul Weimer of CBRE Hotels represented the developer and seller, Hong Kong-based Swire Properties, in the sales transaction.

“The irreplaceable nature of EAST Miami’s tower and strong performance increases generated a number of highly attractive financing proposals,” said Sean Hehir, Managing Partner, President and CEO of Trinity. “CBRE’s understanding of the broader development, combined with their relationship with the seller, resulted in an irreplicable transaction in today’s market. We look forward to working with the CBRE team in the future.”


Owens, Co-Head of Debt & Structured Finance for CBRE Hotels, added, “This transaction reinforces the strong interest in hospitality and mixed-use properties across the country and, particularly, the highly desirable Miami market. With over $3.5 billion of closed hospitality financings by our team since the onset of the pandemic, it is clear the appetite for hospitality and the yield it provides is highly sought after. We continue to see depth and breadth of interest in the lodging space.”

The 352-key EAST Miami Hotel is situated at the heart of Brickell City Centre, a $1.1 billion, 5.4 million square-foot mixed-use development. Alongside the hotel, the project features luxury shops, restaurants, office towers and condominiums.




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