Brookfield’s Hollywood Diplomat scores $168M refi
Diplomat Beach Resort at at 3555 South Ocean Drive
The 1,000-room Diplomat sits at 3555 South Ocean Drive in Hollywood is the second-largest hotel in South Florida, after the Fontainebleau Miami Beach. The property is reportedly on the market for as much as $1 billion, or $1 million per key, according to Bloomberg.
Thayer paid $460 million for the Diplomat in 2014. Shortly after the sale, the former Westin hotel was rebranded to Curio, a Hilton Worldwide Holdings brand.
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Many developers are looking to refinance as interest rates have fallen. Recently, TB Isle Resort LP, led by developer Jeffrey Soffer, received $91 million in financing for the JW Marriott Miami Turnberry Resort & Spa from the Bank of China, boosting its loan to $340 million.
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Coral Gables firm Nichols Brosch Wurst Wolfe (NBWW) were the architects for The Diplomat Resort, Fontainebleau Residences and renovation, and the JW Marriott Miami Turnberry.
Read more HERE >>>> Source: The Real Deal Brookfield’s Hollywood Diplomat scores $168M refi