Marcus & Millichap’s IPA Capital Markets arranges $75.1 million Monroe Hotel recapitalization in Miami Beach
MMI•Monroe Hotel recapitalization arranged in Miami Beach
Marcus & Millichap’s IPA Capital Markets arranged a $75.1 million mid-construction recapitalization for The Monroe Hotel in Miami Beach.
- The financing package was led by Nuveen Green Capital’s $44 million C-PACE loan, supported by $24.8 million in construction debt from City National Bank.
- The capital stack also included $6.3 million in bridge financing from Midland States Bank, backed by historic tax credit equity from PNC Bank.
- Project cost totals $125.5 million; the 89-key luxury boutique hotel is scheduled to open in 2027.
