JLL Capital Markets has arranged a $79.3 million refinancing for the JW Marriott Marquis Miami.
JLL represented the borrower, MET II HOTEL LLC—a joint venture between MetLife Investment Management (the institutional asset management business of MetLife) 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 JW Marriott Marquis Miami has 357 guestrooms, including 313 JW Marriott rooms and 44 Hotel Beaux Arts rooms that operate under Marriott's Autograph Collection soft brand.
The refinancing follows a $16 million renovation completed in 2023, which refreshed all guestrooms and public spaces. The hotel has 80,000 square feet of meeting and event space, including a 20,000-square-foot grand ballroom, reportedly one of the largest among luxury hotels in the Downtown/Brickell market. 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 is connected to the 47-story Wells Fargo Center office tower and is close to several development projects, including the Aston Martin Residences. The property is also within walking distance to major attractions, including Brickell City Centre, Bayfront Park, Kaseya Center arena and the Adrienne Arsht Center for the Performing Arts.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Paul Stasaitis, Americas CEO of JLL’s Hotels & Hospitality Group Kevin Davis, Managing Director Mark Fisher and Analyst Henry Winchester.
“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,” Stasaitis said in a statement. “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.”