Turnberry Ocean Club, Sunny Isles, FL

SUNNY ISLES, FL—Fontainebleau Development of Aventura, FL has secured a $460-million floating rate loan for the refinance of its 54-story Turnberry Ocean Club condominium tower here.

The transaction was announced by Newmark Knight Frank, which arranged the loan with JP Morgan and Mack. The Newmark Knight Frank team was led by Dustin Stolly and Jordan Roeschlaub, Vice Chairmen and Co-Heads of Debt & Structured Finance, along with Nick Scribani, Chris Kramer, and Brett Wilburn.

The contemporary, glass condominium tower, designed by celebrated architect Carlos Zapata and Robert Swedroe, features 154 flow-through, waterfront condo residences with direct ocean and bay views. The property boasts more than 70,000 square feet dedicated to world-class amenities, including the signature Sky Club. The property is located in Miami between Aventura and Bal Harbour.

Located more than 300 feet above the ocean, the three-story private club features multiple indoor and outdoor spaces dedicated solely to private dining, health and wellness and entertainment. Each condo residence features a large family room and staff quarters with full bathroom and closet, 10-foot ceilings, 11-foot deep oceanfront balconies, outdoor kitchens on the terrace, Italian-imported cabinetry in the kitchens and bathrooms, and top of the line appliances.

'The Turnberry Ocean Club stands out among its peers as the premier, ultra-luxury beachfront condominium development in Sunny Isles with an unmatched amenity package and sweeping views of the ocean and bay," says NKF's Stolly.

"Jeff Soffer and the Fontainebleau team continue to develop properties of the highest of quality and add another trophy asset to their portfolio," adds Roeschlaub.

Sunny Isles is nestled between the majestic Atlantic Ocean and the vibrant Intra-coastal Waterway. Sunny Isles Beach offers world-renowned restaurants, nightclubs, theaters, cultural destinations and beaches.