MIAMI (March 28, 2016) –– The Ritz-Carlton South Beach successfully executed a $210,000,000 refinance with Cantor Commercial Real Estate and Societe Generale. The transaction was announced by Lionstone Development and Flag Luxury on behalf of the Dilido Beach Resort L.L.C. a joint venture between such entities. Greenberg Traurig and Eastdil Secured represented Dilido Beach Resort L.L.C.
“The closing of this financing serves to further confirm the strength of The Ritz-Carlton South Beach. We are delighted to own this asset and look forward to its continued success.”
– Diego Lowenstein, CEO of Lionstone Development
“We are very pleased to secure this financing for our flagship hotel. South Beach is a vibrant and diverse hospitality market and we are proud to be the leaders in this market today and for years to come.”
– Paul Kanavos, CEO and Chairman of Flag Luxury
About Lionstone Development
Miami-based Lionstone Group has a 50-year track record of owning, developing, leasing, and managing hospitality and residential properties throughout South Florida. Lionstone’s property and development portfolio includes distinctive projects such as The Ritz-Carlton, South Beach; The Ritz-Carlton, Bal Harbour; EPIC Residences & Hotel; and the first Virgin Hotel located in Chicago. For more information, visit www.lionstonedevelopment.net.
About Flag Luxury
Having planned and completed over $4 billion of hospitality, retail, entertainment and residential projects, Flag Luxury is a leader in its industry. Notable recent projects include The Ritz-Carlton, South Beach; The Ritz-Carlton, Bal Harbour; The Ritz-Carlton, Coconut Grove and Residences; The Ritz-Carlton Golf Club and Spa Jupiter; The Shelborne Wyndham Grand South Beach; The Wyndham Orlando Resort; I Shops Retail Orlando; I-Drive 360 Orlando entertainment and retail complex; the Harmon Retail Center on the Las Vegas Strip; and The Ritz-Carlton Shops South Beach. Flag Luxury currently has over $1 Billion of new projects in its pipeline in New York City, Miami and San Francisco.