NorthMarq Capital’s Miami office refinances The Westin Key West Resort for $50 million
MIAMI (August 31, 2015) – Bill Johnson senior vice president/managing director of NorthMarq Capital’s Miami office arranged financing for The Westin Key West Resort. This resort hotel located at 245 Front Street in Key West, Florida was refinanced for $50 million. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its relationship with a life insurance company. Resort services include a pool, marina, two different spa facilities, beach access, a workout fitness studio and internet access throughout the resort. The property is certified as a Green Lodging Resort and has won multiple prestigious awards. Located in one of the premier vacation destinations in the US, Key West offers a dramatic range of attractions and tourist destinations. Some highlights include: Key West Aquarium, Custom House, Mallory Square, Key West Golf Club and a plethora of beaches and waterfront activities.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
