The hotel stretches from Collins Avenue to the beach and offers oceanfront views of the Atlantic Ocean. The beachside property reopened in 2016 after a complete renovation, is moving toward stabilization.

“The Nautilus' incredible quality and irreplaceable location, combined with Quadrum's track record and Sixty's management, made it a highly sought after process,” Owens says. “The lending community provided a variety of options and proceeds levels well in excess of our client's ultimate desired loan amount.”

Avison Young recently made a significant move in the hotel space. Read all the details. Meanwhile, South Beach assets are as hot as ever. Read about this recent deal.

MIAMI—Nautilus South Beach, an eight-story, class A, 250-room property located in the heart of Miami's Art Deco district, has won the confidence of investors. CBRE Capital Markets Debt & Structured Finance team secured $60 million in bridge financing for the property.

Mark Owens and Shawn Rosenthal of CBRE's Midtown Manhattan office secured the loan on behalf of the borrower, Quadrum Global. Apollo Commercial Real Estate Finance provided the two-year, floating rate loan, which includes three one-year extension options.

“The debt capital markets for hospitality are very liquid at the present time,” Owens, executive vice president and head of hospitality, CBRE Hotels, tells GlobeSt.com. “Balance sheet lenders, conduits, alternative lenders, international capital, and life companies are all deploying capital, which makes for great client outcomes.”

Located at 1825 Collins Avenue, the Nautilus South Beach, a Sixty Hotel, features 48 suites, and one two-bedroom penthouse. The property was designed in the 1950s by famed architect Morris Lapidus,

The hotel stretches from Collins Avenue to the beach and offers oceanfront views of the Atlantic Ocean. The beachside property reopened in 2016 after a complete renovation, is moving toward stabilization.

“The Nautilus' incredible quality and irreplaceable location, combined with Quadrum's track record and Sixty's management, made it a highly sought after process,” Owens says. “The lending community provided a variety of options and proceeds levels well in excess of our client's ultimate desired loan amount.”

Avison Young recently made a significant move in the hotel space. Read all the details. Meanwhile, South Beach assets are as hot as ever. Read about this recent deal.