Outside the Region: HFF places $213 million refinancing for hotels in Miami, Washington D.C.

Miami, FL Holliday Fenoglio Fowler, L.P. (HFF) completed $213 million in refinancing for two hotels totaling 388 rooms.

The HFF team worked on behalf of the borrower, Qatar-based Al Rayyan Tourism Investment Co. (ARTIC), to place three floating-rate loans with Mack Real Estate Credit Strategies: $132 million loan for the St. Regis Bal Harbour Resort and an $81 million loan for the St. Regis Washington, D.C. Each loan carries a four-year term with one one-year extension. 

The HFF debt placement team representing the borrower consisted of senior managing director and head of HFF’s hotel group Daniel Peek; managing directors Danny Kaufman and Christopher Peck; senior directors Jeff Bucaro, Scott Wadler and Chris Hew; and associate Nicole Aguiar.

The St. Regis Bal Harbour is a 27-story luxury hotel with 192 hotel guest rooms and 24 condo-hotel units. The hotel features the Remède Spa, two beach and oceanfront pools, a state-of-the-art fitness suite, business center, 11,200 s/f of meeting space plus a 7,800 s/f ballroom, St. Regis Bentley, butler service, St. Regis Kid’s Club and multiple food and beverage outlets, including Atlantikós, BH Burger Bar, The St. Regis Bar & Sushi Lounge and La Gourmandise. Situated at 9703 Collins Ave. on the northern point of Miami Beach at the intersection of 96th St. and Collins Ave., the hotel is across the street from the Shops at Bal Harbour, a luxury shopping center with several high-end restaurants and bars. 

The St. Regis Washington, D.C. is a 172-room luxury hotel that was originally constructed in 1926 as the Carlton Hotel. Listed on the National Register of Historic Places, the hotel features 25 suites with butler service and complimentary house car, 11,200 s/f of meeting space, business center, afternoon tea, 24-hour fitness center, bicycle rental and two food and beverage outlets, the St. Regis Bar and the Alhambra Restaurant. Located less than two blocks north of the White House, the hotel is at 923 16th St. NW at the intersection of K Street NW and 16th St. NW minutes away from the nation’s most prized monuments and nationally renowned colleges and universities in addition to direct access to a multitude of local, national and international transportation hubs.

“It was a privilege to work with the team at ARTIC to refinance these extraordinary assets,” Kaufman said. “We are looking forward to assisting ARTIC in subsequent financing assignments as they continue to effectuate their business plan surrounding the redevelopment of The Manhattan Times Square property.”

On behalf of ARTIC, Tarek El Sayed, managing director and CEO said, “As one of the leading international hospitality investment companies, our strategy is focused on increasing the value of our hotel portfolio by improving operational efficiency and quality of service while enhancing and developing the properties we acquire to optimize and build new revenue streams. The refinancing announced today reflects the quality of our asset base and further reduces our financing costs as we execute on that strategy. This will help reinforce the market leading positions of our iconic luxury hotels in New York, Chicago, Miami and Washington, D.C., which form the core of our current U.S. portfolio, to provide an even stronger platform for expansion as we continue to seek more investment opportunities across the U.S.”