Finance   ·   Acquisition

Ken Griffin and Goldman Properties Land $118M for Wynwood Office

JP Morgan provided the loan for the 10-story building, which counts Sony Music Group and Gensler as tenants

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Three months after purchasing an office building in Miami’s Wynwood neighborhood, billionaire Ken Griffin and developer Goldman Properties nabbed a $118 million loan from J.P. Morgan Chase, property records show.

The financing covers 545 Wyn, a 10-story office property that was completed in 2020. Griffin, a hedge fund CEO whose estimated net worth hovers around $50 billion, and Goldman Properties purchased the asset for $180 million in January. 

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The 499,370-square-foot building at 545 Northwest 26th Street houses 298,000 square feet of office space and 26,340 square feet of retail space on the ground floor. Tenants include Sony Music Group, architecture firm Gensler, cryptocurrency exchange firm Gemini and the Love Life Café.

Goldman Properties, founded by the late Tony Goldwin and now led by his son-in-law Scott Srebnick, founded the Wynwood Walls museum, which helped kick off the gentrification of Wynwood from an industrial neighborhood to one packed with restaurants, nightclubs, apartments and offices.  

The Miami-based firm sold the 1.4-acre site to Chicago-based Sterling Bay, which developed 545 Wyn and served as the seller in the January transaction. 

Griffin relocated his businesses, hedge fund Citadel and market maker Citadel Securities, from Chicago to the Magic City in 2022, and ever since has been building up his real estate portfolio in Miami. In Brickell, he’s developing a 54-story waterfront headquarters tower, which is expected to cost $2.5 billion.

A representative for 545 Wyn ownership did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com