JLL Capital Markets has arranged a $79.3 million refinancing for the JW Marriott Marquis Miami, a luxury hotel located in Miami’s central business district.
JLL represented the borrower, MET II HOTEL LLC, a joint venture between MetLife Investment Management—the institutional asset management business of MetLife Inc.—and MDM Group, to secure a three-year, floating-rate loan through Madison Realty Capital and Newbond Holdings’ institutional lending platform, Madison Newbond.
Completed in 2010, the 41-story hotel features 357 guestrooms, including 313 JW Marriott rooms and 44 ultra-luxury Hotel Beaux Arts rooms, which operate under Marriott’s Autograph Collection brand.
The refinancing follows a $16 million renovation completed in 2023, which refreshed all guestrooms and public spaces. The hotel offers 80,000 sq. ft. of meeting and event space, featuring a 20,000-sq.-ft. grand ballroom.. Additional amenities include the Boulud Sud restaurant by Chef Daniel Boulud, a full-service spa, a basketball court, fitness center, virtual golf simulator and a resort-style pool deck on the 19th floor.
The hotel benefits from its strategic position in Miami’s CBD with a walkability score of 98. The hotel is connected to the 47-story Wells Fargo Center office tower and is situated near several high-end development projects, including the Aston Martin Residences. The property is also close to Brickell City Centre, Bayfront Park, Kaseya Center and the Adrienne Arsht Center for the Performing Arts.
The JLL Capital Markets team representing the borrower was led by Paul Stasaitis, senior managing director; Kevin Davis, Americas CEO of JLL’s Hotels & Hospitality Group; Mark Fisher, managing director; and Henry Winchester, analyst.
“The Downtown Miami and Brickell hospitality market is experiencing a strong convergence of supply and demand factors, creating an exceptionally favorable environment for luxury hotel product,” said Stasaitis. “Between the recent renovations, resurgence of group business and the current favorable market conditions, the hotel is strategically positioned to improve its performance metrics and expand its market share. These key factors, combined with the property’s established reputation, set the stage for this loan request to be highly pursued by many formidable capital sources.”
