CBRE Capital Markets’ Debt & Structured Finance team announced that it has secured $60.0 million in bridge financing for the Nautilus South Beach, an eight-story, Class A, 250-room property located in the heart of Miami’s Art Deco district.

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

“The Nautilus’ incredible quality and irreplaceable location, combined with Quadrum’s track record and SIXTY’s management, made it a highly sought after process. The lending community provided a variety of options and proceeds levels well in excess of our client’s ultimate desired loan amount,” said Mr. Owens, executive vice president and head of hospitality, CBRE Hotels.

Located at 1825 Collins Avenue, the Nautilus South Beach, a Sixty Hotel, features 48 suites, and one two-bedroom penthouse. The property, designed in the 1950's by famed architect Morris Lapidus, stretches from Collins Avenue to the beach, providing guests with oceanfront views of the Atlantic ocean. The beachside property, which reopened in 2016 after a complete renovation, is moving toward stabilization.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.