(Bloomberg) -- Fontainebleau Miami Beach, a luxury hotel founded in the 1950s, plans to sell a $975 million commercial mortgage-backed security to refinance its debt. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIt seeks to raise around $1.2 billion in debt financing, including the CMBS and a mezzanine loan of as much as $225 million, according to deal documents.Jeffrey Soffer, the indirect maj