Madison Newbond Refis JW Marriott Marquis Miami Hotel With $79M Loan

A joint venture between MetLife Investment Management and MDM Group has nabbed a $79.3 million loan to refinance a Marriott-branded hotel in Downtown Miami, Commercial Observer can first report.

Madison Newbond, a hospitality lending platform formed in 2021 by Madison Realty Capital and Newbond Holdings, originated the loan for the sponsorship’s 41-story JW Marriott Marquis Miami hotel. Built in 2010, the hotel at 255 Biscayne Boulevard Way is within the four-building Met Square complex that houses Wells Fargo Center. 

“The JW Marriott Marquis Miami represents an instrumental development in the revitalization of Downtown Miami and a key fixture in the Met Square complex,” Josh Zegen, a managing principal and co-founder of Madison Realty Capital, said in a statement. “MetLife and MDM Group have made a significant, long-term investment in the development of Downtown Miami.”

JLL arranged the transaction with a capital markets team of Paul Stasaitis, Kevin Davis, Mark Fisher and Henry Winchester.

The 357-key hotel, which is part of Marriott’s Autograph Collection, underwent a $16 million renovation in 2023 that addressed guest rooms, public areas and amenities, with additional upgrades planned for 2026, according to Madison Newbond. Amenities include a pool, basketball court, spa, fitness center, ballroom, meeting room and event space.

“This investment highlights Madison Newbond’s focus on identifying highly experienced borrowers and delivering tailored hospitality financing for leading hotel assets in major markets,” Neil Luthra, a founding partner at Newbond, said in a statement. 

Officials at MetLife and MDM Group did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.