Qatari owner of St. Regis Bal Harbour scores $132M refi

ARTIC paid $213M for the resort in 2014

Aug.August 16, 2018 06:15 PM

St. Regis Bal Harbour and Tarek M. El Sayed

Al Rayyan Tourism Investment Company just closed on a $132 million refinancing of the St. Regis Bal Harbour Resort.

The Qatari owner secured the floating-rate loan from Mack Real Estate. The four-year deal has a one-year extension, according to a press release. HFF arranged the financing.

ARTIC paid $213 million for the St. Regis, at 9703 Collins Avenue, in 2014, a deal that broke down to more than $1 million per room. The 27-story luxury hotel includes 192 rooms and 24 condo-hotel units. It features a spa, two pools, a gym, business center, 11,200 square feet of meeting space and a 7,800-square-foot ballroom, and a handful of restaurants.

Qatar’s ruling Al Thani family controls ARTIC subsidiary Al Faisal Holdings. The firm also refinanced the 689-key Manhattan at Times Square hotel for $290 million and the 172-key St. Regis in Washington, D.C. for $81 million, bringing the total refinancing to $503 million, including the St. Regis.

In South Florida, the Qatari company also owns the W Miami, formerly known as the Viceroy Miami at 485 Brickell Avenue.  – Katherine Kallergis

Related Articles

The Julia hotel, Jesper Arnoldsso

SMS Lodging lists Miami Beach hotel after selling another for $21M

From left: Stambul’s Daniel Peña, Hotusa Group's Amancio López Seijas and Langford Hotel at 121 SE 1st Street (Credit: Google Maps and Hotusa)

Hotusa Hotels buys the redeveloped Langford for $37M

Jeffrey Soffer and the Diplomat Beach Resort (Credit: Getty Images)

Jeffrey Soffer in talks to buy 1,000-room Diplomat Beach Resort for under $1B: report

Cavalier and Henrosa hotels with Susan Gale of One Sotheby’s International Realty

Two South Beach hotels hit the market for $42M

From left: Jay Roberts, Keith Menin andRussell Galbut

Russell Galbut, Keith Menin ink deal with short-term rental operator Domio

Rendering of the Moxy Hotel, Pierre Charalambides and David Grutman (Credit: Kobi Karp)

Wynwood is getting its own Moxy hotel

Regency Hotel Miami (Credit: Google Maps)

Regency Miami near Beckham’s planned soccer complex trades for $26M

An aerial view of damage caused by Hurricane Dorian (Credit: Getty Images)

Tourism-dependent Bahamas sees uphill battle to rebuild hotels after Hurricane Dorian’s devastation