MIAMI—The Holiday Inn Miami Beach Oceanfront has won the confidence of the CMBS market.

Meridian Capital Group arranged $26 million in CMBS financing to refinance the Miami Beach hotel. The 10-year CMBS loan features full-term interest-only payments. Meridian managing directors, Jacob Schmuckler and Steve Adler, who are both based in the company's New York City headquarters, arranged the transaction.

“The Holiday Inn's central location and various on-site and community amenities attract both tourists and business travelers,” says Schmuckler. “The sponsor has owned the hotel for over 20 years, along with several nearby properties. Their strong performance record, as well as the property's recent renovations, demonstrated promising upside potential to the lender and Meridian was able to negotiate favorable terms.”