$412 Million Refinancing of Miami Beach Hotel

Miami Beach Hotel
Co-counsel to Miami Beach hotel in the restructuring of its debt through a $412 million Wall Street bond issuance, as part of restructuring of hotel's entire capital stack. This was the first time in nearly a decade that this type of financing had been done in the CMBS world, where a single loan secured by one asset constituted the entire pool.
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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
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Experience

Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Mi...

Experience
Representation of B piece and special servicer clients, handling in excess of $22 billion in new securitizations in 2013-14.
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