Newmark Secures $1.75 Billion Refinancing for Florida Resorts by Fontainebleau Development
Newmark Group, Inc. has taken a substantial step in the commercial real estate sector by securing $1.75 billion in refinancing for two prestigious resorts owned by Fontainebleau Development in Florida. The financing comprises a $1.2 billion loan for the iconic Fontainebleau Miami Beach and a $550 million loan for the JW Marriott Miami Turnberry Resort & Spa. This remarkable arrangement demonstrates Newmark's prowess in catering to the financing needs of high-profile clients and highlights the enduring appeal of South Florida's hospitality market.
The financing team, including Newmark Co-Presidents of Global Debt & Structured Finance, Jordan Roeschlaub and Jonathan Firestone, along with Vice Chairman Nick Scribani and Managing Director Tyler Dumon, negotiated the favorable terms with financial powerhouses Goldman Sachs and J.P. Morgan. Roeschlaub noted, “These financings underscore the enduring appeal of South Florida’s premier hospitality assets,
The financing team, including Newmark Co-Presidents of Global Debt & Structured Finance, Jordan Roeschlaub and Jonathan Firestone, along with Vice Chairman Nick Scribani and Managing Director Tyler Dumon, negotiated the favorable terms with financial powerhouses Goldman Sachs and J.P. Morgan. Roeschlaub noted, “These financings underscore the enduring appeal of South Florida’s premier hospitality assets,
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