MIAMI-Capmark Bank has closed on the sale of the senior promissory note secured by the Omni Center and Hilton Miami Downtown. The note sale was worth $100 million. The note had a principal balance of $161 million, and represented approximately 78% of the total senior mortgage balance of $206 million.

Jones Lang LaSalle managing directors Jubeen Vaghefi and Denny St. Romain and JLL Hotels executive VP Gregory Rumpel arranged the sale for Capmark Bank. A joint venture between the Related Group of Florida, Tate Capital Real Estate Solutions and ROK Acquisitions purchased the note for the office, retail and hotel mixed-use complex located in downtown Miami.

“It’s a note secured by 14 acres of prime, downtown real estate in downtown Miami, located just blocks from the American Airlines Arena,” says Vaghefi. “This is a key transaction in Miami, particularly given the new developments that have just been approved in the surrounding area, including a 35-story, $78 million Sonesta Mikado hotel.”