Colliers Debt & Equity’s Jeffrey Donnelly and Dmitry Levkov represented Aventura - based Rieber Developments in arranging the financing.
New York, NY, Colliers Debt & Equity’s Jeffrey Donnelly and Dmitry Levkov have closed on a $29.4 million refinancing of Serena, a 100-key Hilton Tapestry Collection Hotel located in Aventura, Florida.
The Donnelly/Levkov team also closed on an $83.8 million refinancing of 1212 Aventura, a mixed use development consisting of 163-units of luxury assisted living, 29,684 square feet of retail, and 25,796 square feet of medical offices for the same client, Rieber Development, located adjacent to the Hilton Hotel.
Rieber Developments has completed several projects throughout South Florida, but the two projects – Serena and 1212 Aventura -- are the first two phases of a very large, multi-city block, multi-phase, master plan development, which will continue to roll out in the coming months, and which the Donnelly/Levkov team will also finance.
Colliers’ Executive Director Jeffrey Donnelly, commented, “Our client, Bernardo Rieber, is a truly talented and visionary developer. He has envisioned and assembled one of the most impressive and comprehensive large scale master plan communities to be attempted in Miami-Dade County. He has intuitively integrated the site’s immediate proximity to the hospital. Even during Covid, when other hotels were practically shuttered, this Hilton property outperformed. It bridges the compelling dual demand drivers of general beach tourism and the trauma hospital one block away.”
Dallas-based Hall Structured Finance provided the $29.4 million senior loan. Colliers’ Executive Director, Dmitry Levkov, commented, “Hall is known to be one of the most active and creative lenders in the hospitality sector. And true to form, they immediately recognized the competitive advantage of this Hilton Hotel due to its tie-in proximity to Aventura Hospital. The Hall team was a pleasure to work with and demonstrated rare creativity and flexibility in overcoming issues that cropped up during the closing.”
Jeffrey Donnelly and Dmitry Levkov head the Debt & Equity practice for Colliers’ New York office. The Donnelly/Levkov team’s focus is on debt and equity solutions for real estate properties and projects across all asset classes - throughout the entire United States, as well as internationally. The Donnelly/Levkov Team is currently financing projects in New York City, Miami, Coral Gables, Fort Lauderdale, Orlando, Nashville, Dallas, and Chicago.
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