Commercial real estate finance and advisory firm Walker & Dunlop Inc. reported that it closed the single largest land acquisition loan in Miami that will eventually be the home of an Aman-branded luxury hotel.
The firm arranged the $464.5 million loan to finance a 4.25-acre bayfront parcel in Miami’s Brickell District that will be the site of Atma Miami by Aman. The property will be the domestic debut of the Atma brand. According to the news release, Walker & Dunlop Capital Markets Institutional Advisory worked on behalf of Oak Row Equities and OKO Group for the acquisition and predevelopment bridge loan from TYKO Capital.
The land acquired has two buildings currently — a 31-story rental building and a 32-story office tower. The release does not disclose the addresses of these two existing buildings.
Timeline and construction details for the Atma Miami have not been released yet. According to Walker & Dunlop, a 185-key luxury hotel will open alongside 480 ultra-luxury residences that will be rolled out in two phases. The property will also have a spa, private marina and racquet club.
“We are pleased to support the owners and lenders in closing this beneficial transaction,” said Aaron Appel, senior managing director at Walker & Dunlop. “The site represents the largest and final waterfront parcel of its scale in Brickell and will become an ultra-luxury destination that redefines holistic living and leisure. We are proud to deliver a tailored financing solution alongside trusted capital partners and are grateful for the collaboration that brought this landmark deal to a successful close.”
Aman doesn't currently have any information about the new luxury hotel and residences on its website, but it does have a few details on the Aman Miami Beach, which is slated to open in 2027 in Miami Beach’s Faena District, that also consists of a hotel and residences.