Milbank LLP advised a joint venture between subsidiaries of Monroe Capital LLC and The Witkoff Group LLC, as borrower, in the origination of a $430 million construction loan from JPMorgan Chase to finance a Miami luxury condominium and hotel development in Miami Beach, Florida, known as The Shore Club.
The construction loan is the largest in Florida this year and will fund construction of the Shore Club Private Collection, a combination of high-end condominiums designed by architect Robert AM Stern and an Auberge Hotel and spa on a three-acre oceanfront plot in South Beach.
The Milbank deal team was led by Real Estate partner Kevin O’Shea with support from associates Matthew Freifeld and Sylvia Rosner.
