Dolphins Stadium Corporation hired SAG Principal, David Abrams, while at another firm, to lead the banking effort in the multi-year funding of numerous improvements to the home of the Miami Dolphins NFL team. SunLife Stadium, located in Miami Gardens, Florida is a world-class sports and entertainment facility that has hosted a wide variety of events including: Miami Dolphins Football, Florida Marlins Baseball, the FedEx Orange Bowl (including the BCS National Championship game in 2009), and was the home of several recent Super Bowl Games including 2007 and 2010.
In 2006 and 2007, Mr. Abrams led the team that raised over $150 million of variable rate bonds. The proceeds were used to fund additions, alterations and improvement to the stadium complex including suite, club and plaza area improvements. In addition, the Stadium Corporation chose Mr. Abrams’ team to remarket all of its outstanding $240mm of variable rate indebtedness.
The 76,100-seat stadium’s $246 million improvements and refinancing project was completed in 2008.
Project Components: NFL stadium suite, club and plaza area improvements
Project Value: $246 million improvements and refinancing