National Hotel – Miami Beach, FL

January 31, 2007 - Union Capital Investments, LLC provided permanent financing in the amount of $30,000,000 for the acquisition of The National Hotel in Miami Beach, Florida. The 6.03% fixed rate loan is based on a 48% loan-to-value, with debt service coverage of 1.42. The loan is for a 5-year term, with interest-only payments for the first two years followed by a 30-year amortization period. The Borrower is a major real estate owner, developer and investor in Paris and St. Tropez. 

The National Hotel in Miami Beach boasts an eleven-story tower and a four-story Cabana wing. The hotel features a total of 151 elegantly appointed rooms including seven one-bedroom suites and The Triplex, an all-new three-level penthouse suite. The Cabana wing has 32 deluxe rooms and 4 one-bedroom suites, each with a private terrace overlooking the property’s two swimming pools and the surrounding tropical gardens. Originally built in the 1940’s and completely renovated in 1997 and 2003, the property has been very well maintained and is in excellent condition. Amenities and services provided at The National include 24-hour concierge service, 24-hour room service, Valet parking, ATM machine, fitness room, laundry and dry-cleaning service, shoeshine service and daily newspapers. The restaurant on the property is an intimate French fusion restaurant with an atrium and terrace seating. The poolside bar has a direct view of the Atlantic Ocean, and the hotel’s cocktail lounge offers live entertainment. The National also features the longest pool in Miami Beach, its signature “Infinity Pool” that is 205 feet long and is surrounded by gardens.  The Infinity Beach Club offers beachside lounge chairs, cabanas, umbrellas, towels, drink service and poolside spa services.