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MIAMI, Florida—Berkadia announced the refinancing of Hampton Inn & Suites, a 221-key hotel with ground-floor retail in Miami’s Brickell neighborhood. Managing Director Saul Hoppenstein and Associate Director James Elmore of Berkadia Boca Raton secured a $45.9 million loan on behalf of the sponsor, Miami-based Hospitality Operations, Inc.
The lender, a life insurance company, provided the five-year, fixed-rate loan with full-term interest only at an attractive interest rate.
“Despite a challenging capital markets landscape, Berkadia continues to play a key role in fostering the growth of Miami’s hospitality sector by securing financing for clients with competitive terms,” said Hoppenstein.
Hampton Inn & Suites Brickell has 221 rooms equipped with queen-size or king-size beds, a flat-screen TV, WiFi, and more. Amenities include a parking garage, rooftop pool, fitness center, on-site restaurant, meeting rooms, and more.
Located in Miami’s financial district, the property offers access to north and southbound Interstate 95, the Brightline commuter train station, Miami-Dade County Metrorail, and free Metromover, and is near upscale shopping, dining, and entertainment in Brickell City Centre, Miami Heat Arena, Bayfront Park, Brickell Key, and more.
