Cronheim Hotel Capital secures financing for Grand Beach Hotel in Bay Harbor Islands, FL

Bay Harbor Islands, FL Cronheim Hotel Capital has arranged $5 million in financing for the Grand Beach Hotel, a 96-suite luxury  property. Brandon Szwalbenest, Dev Morris, and Andrew Stewart secured the financing on behalf of the Murray Group. The four-year loan, which features an initial interest rate of 5.67% and a 30-year amortization, was placed with one of Cronheim’s life insurance company correspondent relationships.

Constructed by the sponsor in 2018, the 96-key all-suites Grand Beach Hotel Bay Harbor is located near the Bal Harbour Shops — an open-air luxury destination featuring over 100 globally recognized designer brands. The hotel is also near the beaches of Surfside and is surrounded by residential neighborhoods and retail. This setting drives consistent year-round tourism and positions the property to benefit from the area’s growing appeal among both leisure and business travelers.

The hotel’s location provides connectivity to the broader Miami area, with direct access to Collins Ave., the Miami Beach boardwalk, and key arteries leading to Downtown Miami and Miami International Airport. Its convenience is further amplified by proximity to top-tier regional draws such as the Mount Sinai Medical Center, Normandy Shores Golf Club, and a vibrant local dining scene. This combination of luxury, accessibility, and surrounding demand drivers makes the property a hospitality asset in one of South Florida’s most sought-after submarkets.

The Murray Group is a developer that owns and manages three hotels in the greater Miami Beach area.