Finance Deals of the Week: Largest South Florida Construction Loan
The top five financings from Feb. 5 to Feb. 9.
By The Editors February 9, 2024 11:00 am
reprints
This week, the large loans were flowing. South Florida saw its largest construction loan ever with the $600 million financing package for the Cipriani Residences Miami at 1420 S Miami Avenue. Also, Scion Student Communities scored a $380 million credit facility to refinance 11 off-campus student housing properties.
| Loan Amount | Lender | Borrower | Address | Asset | Brokers |
|---|---|---|---|---|---|
| $600 million | Banco Inbursa and Ascendant Capital Partners | Mast Capital | 1420 South Miami Avenue; Miami | Residential | Newmark (NMRK)’s Jordan Roeschlaub, Dustin Stolly and Nick Scribani |
| $380 million | Walker & Dunlop | Scion Student Communities | 11-building portfolio | Student Housing | W&D's Colin Coleman, Brendan Coleman and Will Baker |
| $333 million | Deutsche Bank Securities and BMO Capital Markets | MCR Hotels | 16-building portfolio | Hotel | Eastdil Secured |
| $98 million | Barings Real Estate | New Land Enterprises | 700 East Kilbourn Avenue; Milwaukee | Residential | JLL (JLL)'s Tim Joyce, Trent Niederberger, Mike Brady, Ryan Sullivan and Michael Gurwin |
| $95 million | Banco Inbursa | Merrimac Ventures and Aria Development Group | 600 Miami World Center; Miami | Residential | Newmark's Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Daniel Matz and Holden Witkoff |
Finance deals of the week reflect deals closed or announced from Feb. 5 to Feb. 9. Information on financings can be sent to editorial@commercialobserver.com.
1420 South Miami Avenue, 495 NE 83rd Street, 600 Miami Worldcenter, 700 East Kilbourn Avenue, Deals of the Week, Aria Development Group, Ascendant Capital Partners, Banco Inbursa, Barings Real Estate, Barrington Brothers, BMO Capital Markets, Deutsche Bank Securities, Eastdil Secured, JLL, Mast Capital, MCR Hotels, Merrimac Ventures, New Land Enterprises, Newmark, Scion Student Communities, Värde Partners, Walker & Dunlop
