Genting Lands $500M to Refi Mixed-Use Omni Center in Miami
By Julia Echikson October 21, 2026 6:15 pm
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Genting Americas scored a $500 million loan to refinance the mixed-use Omni Center near Downtown Miami, three years after failing to sell the 15-acre site next door for $1.2 billion.
The 1.5 million-square-foot Omni Center is between 1501 and 1645 Biscayne Boulevard, just north of the entrance to the MacArthur and Venetian causeways, near the Adrienne Arsht Center for the Performing Arts.
Wells Fargo is serving as an administrative agent on behalf of a group of lenders, according to public mortgage documents.
The property, which was built in the 1970s, features 435,000 square feet of office space, a 527-room Hilton hotel and a 2,500-spot parking garage. Omni International Mall, located inside the building, closed in 2000.
Over the past year, Planet Fitness signed a 26,000-square-foot office lease and consulting firm Skyline Financial took 25,420 square feet. Other tenants include the U.S. State Department, which operates a passport office, and Keypoint Academy, which operates a private grade school.
Genting Americas, a division of Malaysian casino operator Genting Group, purchased the asset for $180 million in 2011 through foreclosure. That same year, it also bought the neighboring 15-acre site for $236 million, creating one of the biggest assemblages in Miami.
The firm demolished the office building on that neighboring site, home to the Miami Herald headquarters, with plans to develop a casino, which never materialized after it failed to gain a gambling license.
In 2023, a joint venture, led by David Martin’s Terra, went under contract to buy the waterfront assemblage, not including the Omni Center, for $1.2 billion in what would have been one of the country’s priciest land acquisitions. But the transaction fell apart as the developer struggled to secure financing, and the land remains mostly vacant today.
A representative for Genting Americas did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
