Access Industries scores $225M refi for Faena District
The real estate arm of billionaire Len Blavatnik’s Access Industries scored a $225 million refinancing of the debt backing the Faena District, The Real Deal has learned. J.P. Morgan increased the loan backing the district by $55 million, according to Access Real Estate, a division of New York-based Access Industries. The new loan lowers the effective interest rate through a reduced spread, according to Access. The deal closed on Friday. Jonah Sonnenborn, who leads Access Real Estate, said the refinancing “reflects the resilience” of Miami’s luxury tourism and real estate sectors. The district includes the Faena Hotel at 3201 Collins […]This article originally appeared on The Real Deal. Click here to read the full story.
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