Genting Secures $500M Refinancing for Miami’s Omni Center

Genting Americas has closed a $500 million loan to refinance the Omni Center, a mixed-use property of roughly 1.5 million square feet at 1501 to 1645 Biscayne Boulevard near Downtown Miami. Wells Fargo is acting as administrative agent for a group of lenders, according to public mortgage records.

The 1970s-era building includes about 435,000 square feet of office space, a 527-room Hilton hotel and a 2,500-space parking garage. The former Omni International Mall inside the complex closed in 2000. Recent tenants include Planet Fitness, which signed a 26,000-square-foot office lease, and consulting firm Skyline Financial, which took 25,420 square feet. The U.S. State Department operates a passport office on site.

Genting Americas, a division of Malaysia-based Genting Group, acquired the Omni Center through foreclosure in 2011 for $180 million. The same year it bought the adjacent 15-acre waterfront parcel for $236 million. A 2023 joint venture led by David Martin's Terra agreed to buy that neighboring assemblage for $1.2 billion, but the deal collapsed when financing could not be secured, and the land remains largely vacant. Genting did not immediately respond to a request for comment.

For developers and lenders, the refinancing signals that large, older mixed-use assets in Miami's core can still attract institutional debt, while the stalled waterfront site remains a reminder of financing risk on major assemblages.