Dealmaker: Walker & Dunlop Secures $140M for Miami Beach’s Soho Beach House

(Soho Beach House, Miami Beach, Fla.)

Walker & Dunlop, Bethesda, Md., arranged $140 million to refinance Soho Beach House in Miami Beach, Fla.

The property is a private members club and hotel with design nods to the city’s Art Deco and Cuban heritage.

“We were able to differentiate Soho Beach House as a marquee asset given the sustainability of its highly recurring membership revenue model and the impressive profitability of the asset through the cycle,” said Ari Hirt, Managing Director at Walker & Dunlop.

Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, Hirt, Triston Stegall and David Kasten advised Beach House Owner, a subsidiary of Soho House & Co.

“SHCO selected JPMorgan Chase Bank and Citi Real Estate Funding Inc. for a favorable 10-year fixed-rate interest-only loan, which repaid the existing debt, repatriated equity and covered financing and closing costs,” Walker & Dunlop said.