The Real Deal Miami

Soho Beach House owner gets $55M loan

Ladder Capital Finance provides mortgage for hotel, which includes a private club
By Eric Kalis | March 19, 2014 11:15AM

Soho Beach House

Soho Beach House

The owner of the Soho Beach House in Miami Beach obtained a $55 million loan, The Real Deal has learned.

Beach House Owner received the financing from New York-based Ladder Capital Finance last Friday, according to Miami-Dade County records. The county recorded the transaction Tuesday. The mortgage matures in April 2019.

The former Sovereign Hotel at 4385 Collins Avenue was purchased for $39 million in November 2008 and repositioned as Soho Beach House following extensive renovations. Soho Beach House is a private club, hotel and spa with 50 rooms. The concept originated nearly 20 years ago in London with the Soho House.

Soho Beach House was the site of a December party celebrating Moses Bensusan’s Costa Hollywood Condominium Resort project. Developer Michael Capponi is part of the Costa team. Guests at the Soho party included actor Jamie Foxx, Foxx’s daughter Corinne Bishop, Lenny Kravitz’s daughter Zoe Kravitz and model Amber Arbucci.