PMG, along with partners Greybrook, Mohari Hospitality, S2 Development, and Hilton, have secured $668 million in construction financing for the Waldorf Astoria Hotel & Residences Miami. At 1,049 feet, The Waldorf Astoria Hotel & Residences Miami will be the tallest residential building south of New York City. It will include 387 private residences and 205 guestrooms and suites within the luxury hotel. The property is 90% sold.

Bank OZK and Related Fund Management provided the financing for the transaction brokered by Christopher Peck, Chris Drew, Brian Gaswirth, Jimmy Calvo, and Mateo Bolivar of Jones Lang LaSalle. John Moriarty & Associates, alongside CAPFORM, is the general contractor. Located at 300 Biscayne Boulevard, the design will be led by Sieger Suarez Architects in collaboration with architect Carlos Ott.

Hotel guests and residents will have access to a restaurant, event spaces, meeting and boardrooms, a resort-style pool deck with private cabanas, and a spa and fitness center. Private residential amenities will include an owners-only lobby and an elevated pool deck.

The post $668M Construction Loan Secured by Miami Waldorf Astoria Development Group appeared first on Connect CRE.