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The Miami Beach Marina secured a $45 million mortgage.

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Brian Bandell

Senior Reporter - South Florida Business Journal

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The Miami Beach Marina refinanced its mortgage for $45 million with American Real Estate Capital.

The property, located at 300 Alton Road, has 55,000 square feet of retail space, plus a 400-slip marina that can accommodate yachts up to 250 feet. Tenants include Texas De Brazil and Monty’s. Miami Beach Marina Associates controls the property through a lease with the city of Miami Beach, and the mortgage secures that lease. The borrower is managed by Robert W. Chrisoph.

Its previous mortgage, with Wells Fargo Bank Wells Fargo BankLatest from The Business JournalsPhilanthropic businesses win awardsSergio Pino turns Miami site over to lenderForeclosure RoundupFollow this company , was last modified at $35 million in October 2010, so this represents a $10 million increase.

Coral Gables-based American Real Estate Capital is the commercial lending arm of insurance giant American Financial Group

http://www.sanlorinproperties.com
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