TL;DR
Blackstone secured a $115 million refinancing from JP Morgan for the W Fort Lauderdale hotel, which it acquired in 2024 for $153 million. The refinancing marks the second notable refinancing JP Morgan Chase has issued to South Florida resorts lately.
Blackstone nabbed $115 million to refinance the oceanfront, W hotel in Fort Lauderdale, Fla., property records show.
The debt from J.P. Morgan Chase covers the 346-room property at 401 North Fort Lauderdale Beach Boulevard, between Riomar Street and Bayshore Drive.
In 2024, the private equity giant purchased the 19-story building from an affiliate of Related Companies. The $153 million deal included $97.6 million for the property’s real estate and another $55 million for the hotel’s operations and furniture.
The 567,524-square-foot asset was built in 2009, and Related Companies spent about $55 million on renovations.
The W hotel’s debt transaction marks the second notable refinancing J.P. Morgan Chase has issued to South Florida resorts lately. In April, the bank, alongside Citi Real Estate Funding, provided $600 million for the 1,000-room, oceanfront Diplomat Beach Resort in Hollywood, which Trinity Investments and Credit Suisse Asset Management had bought for $835 million in 2023.
The recent refinancing also comes as the W property in South Beach is shutting down for renovations after the billionaire Reuben Brothers purchased the 407-room asset for more than $400 million in 2024. Earlier this week, the owners laid off over 100 workers.
In this story
This story was originally published by Julia Echikson in Commercial Observer on June 24, 2026. Burnaze summarizes and links to the original reporting.
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