Greystone Closes $419M Refinance Deal for Panorama Tower in Miami

Greystone Commercial Capital (GCC) has recently finalized a substantial $419 million transaction to refinance Panorama Tower in the city of Miami, Florida. This iconic property, standing tall at 85 stories, is a pinnacle of luxury, offering a blend of 821 multifamily residences, 112,731 square feet of top-notch Class A office space, as well as 25,219 square feet of prime retail space. Let’s not forget the convenience of a 2,000-space private parking garage, ensuring a hassle-free experience for residents and visitors alike. Furthermore, attached to this architectural marvel is a 19-story Hyatt Centric Hotel with 208 rooms, adding a touch of opulence to the overall structure. To facilitate this transaction, a well-structured Agency loan was secured alongside a strategic investment spearheaded by a distinguished global pension fund.

A Financial Alliance

A robust financial alliance was formed with a $334 million Freddie Mac Optigo® senior loan facilitated by Greystone Servicing Company LLC. This financial arrangement encompasses a five-year term and a 35-year amortization period, complemented by an additional $85 million of Agency-compliant subordinate debt.

Breaking Ground with Innovation

Delivering a cutting-edge structured finance solution sets a new benchmark in the industry. Collaborating with esteemed financial institutions and Florida East Coast Realty on the Panorama Tower project has proven to be a remarkable journey of innovation and strategic partnerships.