Sbe scores $425M refi for Delano South Beach, Hudson Hotel

Miami /
Feb.February 13, 2017 01:40 PM

Sam Nazarian’s Sbe secured a $425 million refinance of its Delano South Beach and Hudson Hotel properties. 

Column Financial provided the loan, which breaks down to a $280 million mortgage and a $145 million junior mezzanine loan, according to a press release. Both mature on February 9, 2020 with two one-year extension options.

Sbe and its partners Yucaipa and Cain Hoy closed on the $800 million acquisition of Morgans Hotel Group in December, in a deal that included management of 13 hotels and ownership of Delano, Hudson and Clift in San Francisco.

Last year, Morgans received an extension on its $450 million loan package for the Miami and New York hotels. In 2015, the two properties generated aggregate revenues of nearly $128.5 million with a combined net operating income of $35.2 million, according to data from CMBS analytics firm Trepp.

Delano, at 1685 Collins Avenue, has 194 hotel rooms while the Hudson, at 356 West 58th Street, has 866 keys. – Katherine Kallergis


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Donald Trump and Grant Cardone (Cardone Enterprises)
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
Heading south: Alta buys dev site for apartment complex near Homestead
Heading south: Alta buys dev site for apartment complex near Homestead
Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
Grant Cardone to buy $750M in SoFla apartments
Grant Cardone to buy $750M in SoFla apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...