The $975 million commercial mortgage-backed securities loan for Jeffrey Soffer’s Fontainebleau Miami Beach has entered special servicing, presenting new challenges for Miami-Dade County’s largest resort. The CMBS loan is backed by 846 hotel rooms at 4441 Collins Avenue. It went into special servicing on March 30 due to payment default, according to data provider Trepp. The loan, originated in November, is the largest CMBS hotel loan in South Florida, according to Trepp. Commercial Real Estate
source https://therealdeal.com/2020/04/21/fontainebleau-miami-beachs-1b-loan-enters-special-servicing/
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