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

ARTIC paid $213M for the resort in 2014

St. Regis Bal Harbour and Tarek M. El Sayed
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.

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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