Blackstone lands $154M refinancing for MiamiCentral office towers

• Blackstone Inc secured $154 million in refinancing from CIM Group
• Loan backs 2 and 3 MiamiCentral, a 339,000-square-foot Class A office asset
• Property continues to attract tenants like Uber, signaling strong leasing demand

What the refinancing covers

Blackstone has locked in $154 million in fresh debt from CIM Group’s private credit arm to refinance 2 and 3 MiamiCentral, a trophy office component within a larger mixed-use development in downtown Miami. The asset totals 339,000 square feet and serves as a regional hub for Blackstone, which also leases space inside the property. Eastdil Secured arranged the financing, reinforcing continued lender appetite for high-quality office assets in prime locations. Blackstone originally acquired the property in 2021 for $230 million, positioning itself early in Miami’s post-pandemic growth cycle.

What makes MiamiCentral stand out

Completed in 2018, the buildings are modern Class A assets designed to compete with top-tier office products. 2 MiamiCentral rises 17 stories with roughly 196,000 square feet of office space, while 3 MiamiCentral includes 105,000 square feet of office, 33,000 square feet of retail, and over 1,300 parking spaces. The project is part of the broader MiamiCentral mixed-use development, which includes more than 800 residential units and major retail anchors. The site is directly connected to a major transit hub serving Brightline, Tri-Rail, and Metrorail, making it one of the most connected office locations in South Florida.

What this means for office demand in Miami

Leasing momentum at the property continues to hold. Uber recently expanded its footprint to 26,000 square feet, highlighting sustained tenant demand for well-located, amenitized office space. CIM Group emphasized that capital is still targeting newer office properties tied to mixed-use developments and strong transit access. These assets are outperforming older office buildings that are facing leasing challenges and declining valuations. Miami remains a key growth market, with population inflows and corporate relocations supporting office fundamentals, particularly for premium assets.

What this means for lenders and investors

This refinancing shows that debt capital is still available for the right office deals. Lenders are prioritizing assets with strong fundamentals, including location, tenant quality, and integration within mixed-use environments. For investors and landlords, the message is clear. Capital is selective but active. Well-positioned office assets in growth markets like Miami can still secure financing and maintain value. Blackstone’s ability to refinance at scale reinforces confidence in top-tier office product, even as the broader office sector faces uncertainty.