Blackstone Lands $115M Refi for Fort Lauderdale W Hotel From JP Morgan
By Julia Echikson June 24, 2026 12:23 pm
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Blackstone nabbed $115 million to refinance the oceanfront, W hotel in Fort Lauderdale, Fla., property records show.
The debt from J.P. Morgan Chase covers the 346-room property at 401 North Fort Lauderdale Beach Boulevard, between Riomar Street and Bayshore Drive.
In 2024, the private equity giant purchased the 19-story building from an affiliate of Related Companies. The $153 million deal included $97.6 million for the property’s real estate and another $55 million for the hotel’s operations and furniture.
The 567,524-square-foot asset was built in 2009, and Related Companies spent about $55 million on renovations.
The W hotel’s debt transaction marks the second notable refinancing J.P. Morgan Chase has issued to South Florida resorts lately. In April, the bank, alongside Citi Real Estate Funding, provided $600 million for the 1,000-room, oceanfront Diplomat Beach Resort in Hollywood, which Trinity Investments and Credit Suisse Asset Management had bought for $835 million in 2023.
The recent refinancing also comes as the W property in South Beach is shutting down for renovations after the billionaire Reuben Brothers purchased the 407-room asset for more than $400 million in 2024. Earlier this week, the owners laid off over 100 workers.
Representatives for Blackstone did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
