Genting Americas has secured a $500 million loan to refinance the Omni Center, a 1.5 million-square-foot mixed-use complex near Downtown Miami. Wells Fargo served as the administrative agent on behalf of a group of lenders, according to public mortgage records reported by Commercial Observer.
The property sits between 1501 and 1645 Biscayne Boulevard, north of the entrances to the MacArthur and Venetian causeways. The complex was built in the 1970s and includes 435,000 square feet of office space, a 527-room Hilton hotel, and a 2,500-spot parking garage. Genting Americas, a division of Genting Group, acquired the asset for $180 million through foreclosure in 2011.
Tenant roster and site background
The Omni Center previously housed the Omni International Mall, which closed in 2000. Over the past year, the property added office tenants including Planet Fitness with a 26,000-square-foot lease and consulting firm Skyline Financial with 25,420 square feet. Other active occupants include Keypoint Academy, which runs a private grade school, and the U.S. State Department, which operates a passport office on the premises.
Commercial Observer noted that Genting Americas also purchased a neighboring 15-acre parcel in 2011 for $236 million, demolishing the former Miami Herald headquarters on the site. A joint venture led by Terra went under contract in 2023 to buy that adjacent parcel for $1.2 billion, but the transaction did not close after the buyer faced difficulties obtaining financing. The refinancing loan covers the Omni Center itself rather than the adjacent vacant land.
What it changes for a closing
For deal teams running multi-asset refinancings, this transaction highlights the closing mechanics required for mixed-use collateral with multiple operating components. Because the property combines hospitality, commercial office, and structured parking, the closing requires distinct diligence tracks for the 527-room Hilton hotel operations and the office rent roll.
Legal and title teams must coordinate estoppel certificates and subordination agreements across varied tenant types, including private school operators and federal government agencies like the U.S. State Department. In addition, syndication structures with an administrative agent like Wells Fargo require clear alignment on agency provisions, lender voting thresholds, and collateral split definitions when adjacent parcels under the same ownership are excluded from the loan collateral.