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Newmark Arranges $1.75 Billion Refinancing for Two of Fontainebleau Development’s Award-Winning Florida Resorts |
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Newmark announces it has arranged $1.2 billion and $550 million loans on behalf of Fontainebleau Development for the refinancing of award-winning South Florida resorts Fontainebleau Miami Beach and the JW Marriott Miami Turnberry Resort & Spa, respectively. |
Newmark Co-Presidents of Global Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, Vice Chairman Nick Scribani, Managing Director Tyler Dumon and Director John Caraviello secured the financing from Goldman Sachs and J.P. Morgan on both transactions.
“These financings underscore the enduring appeal of South Florida’s premier hospitality assets,” said Roeschlaub. “The Fontainebleau Miami Beach and JW Marriott Miami Turnberry Resort & Spa are iconic destinations and exemplars of innovation in the luxury resort market. These transactions highlight the confidence that institutional capital has in best-in-class assets and operators in this dynamic region.”
The Fontainebleau Miami Beach has remained a landmark destination in Miami Beach for over 70 years since its original development in 1952, and just delivered a newly built convention center in December 2024. The hotel spans over 22 acres and boasts 1,594 spacious guest rooms across four distinct towers. It offers best-in-class amenities, such as full-service beachfront access, 11 unique pools with luxury cabanas, nine food and beverage outlets, three nightlife and lounge venues, 200,000 square feet of existing meeting and event space and a 40,000 square foot spa which includes a 5,800 square foot fitness center.
The JW Marriott Miami Turnberry Resort & Spa has stood as an iconic destination in South Florida for over 50 years since its original development in 1967, and recently underwent an extensive renovation and expansion in 2019. The 270-acre resort includes 685 guest rooms, two golf courses with a private country club, 120,000 square feet of versatile meeting and event space, six award-winning restaurants and lounges, a state-of-the-art waterpark and a 25,000 square foot spa.
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125 Park Avenue
New York, NY 10017
t 212-372-2000
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125 Park Avenue, New York, NY 10017 t 212-372-2000
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