Finance Deals of the Week: Bank OZK and Related Make $668M Record Construction Loan
Top five financing deals from June 10 to June 14
By The Editors June 14, 2024 4:21 pm
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The second week of June featured a record construction financing in downtown Miami: A PMG-led joint venture secured $668 million from Bank OZK (OZK) and Related Fund Management to complete the Waldorf Astoria Hotel & Residences Miami, a deal that exceeded the previously held the record for landing the region’s largest construction loan by more than $60 million. Another big financing came in the form of Goldman Sachs (GS) lending $120 million to TZ Capital to acquire the luxury retail base at 680 Madison Avenue. There were also impressive financings in down in Florida and out in Queens.
It was a week when the dollars were flying, and here are the rest of the deals.
| Loan Amount | Lender | Borrower | Address | Asset | Broker |
|---|---|---|---|---|---|
| $668 million | Bank OZK and Related Fund Management | Greybrook | 300 Biscayne Boulevard; Miami | Hospitality & Condo | JLL's Christopher Peck, Chris Drew, Brian Gaswirth, Jimmy Calvo and Mateo Bolivar |
| $120 million | Goldman Sachs | TZ Capital | 680 Madison Avenue; New York City | Retail | JLL's Christopher Peck and Aaron Niedermayer |
| $69 million | Acore Capital | KABR Group | 184-10 and 184-60 Jamaica Avenue; Queens | Industrial | Cushman's Gideon Gil and Dale Braverman. |
| $68 million | Greystone | Murbeck Investments | 6224 SW 20th Street; Gainesville, Florida | Multifamily | Meridian's Peter Martz and Noam Kaminetzky |
| $67.5 million | Dwight Capital | Blue Iron Development | 1 Frst Rdg Blvd; Saratoga Springs, NY | Multifamily | DMT's David Scheer and Joshua Klein |
Finance Deals of the Week reflect deals closed or announced from June 10 to June 14. Information on financings can be sent to editorial@commercialobserver.com.
