Reuben Brothers has acquired a $132 million mortgage from Mack Real Estate for the senior loan behind the St. Regis Bal Harbour.
Adam Spies, Jared Kelso, Dan O’Brien and Steve Michaels of Cushman & Wakefield represented Mack Real Estate in the note sale.
The loan was issued in 2018 and has a four-year term with a one-year extension option.
The 27-story hotel includes 192 rooms and 24 condo-hotel units, and has been owned by Al Rayyan Tourism Investment Company since 2014.
It is the second Miami deal for the British-based private
equity and investment firm led by David and Simon Reuben in as many months.
In September, the company acquired a 25 percent stake in the
JW Marriott Miami Turnberry Resort & Spa from Jeffrey Soffer’s
The hotel property is one of the largest in South Florida,
featuring 685 hotel rooms and a 36-hole golf course. Reuben Brothers and
Fontainebleau Development are reportedly exploring additional partnerships on
(Visited 1 times, 48 visits today)