Goldman Sachs and Wells Fargo Provide $229M Refi for 801 Brickell Office Building

Monarch Alternative Capital and Tourmaline Capital Partners refinanced 801 Brickell, one of Miami’s prominent office buildings, with $229 million from Goldman Sachs and Wells Fargo, property records show. 

The 28-story tower sits at 801 Brickell Avenue and counts high-profile tenants, including French bank BNP Paribas, payments giant Mastercard and Swiss skin care company Galderma, which inked a 19,000-square-foot lease this year. 

On the ground floor, hospitality mogul David Grutman operates the Komodo Asian-fusion restaurant. Ludlow Coffee Supply, an establishment from New York, opened a counter this year, while Cava and PopUp Bagels are also set to open.  

The lenders increased a loan issued in 2023, which had $148.6 million in outstanding debt, by $80.4 million, according to mortgage documents. Monarch Alternative Capital and Tourmaline Capital Partners purchased the 694,863-square-foot building for $250 million in 2023. 

The Brickell office market remains tight, with the vacancy rate at just over 13 percent while boasting some of the highest asking rents in the city at $88.7 a square foot at the close of 2025’s second quarter, according to data from Colliers. 

Office buildings with good tenancy and notable owners are managing to land refinancings in South Florida. Last month, Stephen Ross’s Related Ross refinanced One Flagler, a new Downtown West Palm Beach office building, with $340 million from BDT & MSD Partners. 

A spokesperson for Goldman Sachs declined to comment. Representatives for Monarch Alternative Capital and Wells Fargo did not respond to requests for comment, while a spokesperson for Tourmaline Capital Partners could not be reached for comment. 

Julia Echikson can be reached at jechikson@commercialobserver.com.