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Keystone Property Group Secures $62 Million Loan From Arbor Realty For Office-to-Residential Conversion

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FINANCED
$62,000,000

Florida

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Development Site474,455 SF
Financed 10/27/2025
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Property Image
FINANCED

Keystone Property Group Secures $62 Million Loan From Arbor Realty For Office-to-Residential Conversion

9500 South Dadeland Boulevard, Ste 400

See Similar Deals
Development Site474,455 SF
Financed 10/27/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$130
Total Square Footage:474,455 SF
Transaction Type:Loan

The property asset involved in the transaction is a development site located at 9400 & 9500 South Dadeland Blvd in Miami. This site spans 474,455 square feet and covers approximately 8.3 acres. Keystone Property Group has secured a loan of $62 million from Arbor Realty to fund the conversion of a portion of the office campus into residential apartments.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $62,000,000
  • Asset Size: 474,455 SF
  • Acres: 8.3
  • Lender: Ivan Kaufman - Arbor Realty
  • Landlord: Bill Glazer - Keystone Property Group
  • Loan Terms: three-year

The deal showcases a notable collaboration between Ivan Kaufman of Arbor Realty and Bill Glazer from Keystone Property Group. This agreement supports one of South Florida's first major office-to-residential conversions, with construction currently in progress on the site.

Players

Ivan Kaufman
Arbor Realty Trust
Ivan Kaufman
11 deals$1B volume
LENDER
Arbor Realty Trust
Arbor Realty Trust
LENDER

Details

FINANCED
IMAGE: Ivan Kaufman & Bill Glazer DATE: 10/27/2025 ADDRESS: 9400 and 9500 South Dadeland Blvd MARKET: Miami ASSET TYPE: Development Site ~ SF: 474,455 ~ ACRES: 8.3 LENDER: Ivan Kaufman - Arbor Realty LANDLORD: Bill Glazer - Keystone Property Group LOAN AMOUNT: $62,000,000 LOAN TERMS: three-year NOTE: Keystone Property Group secured a $62 million loan from Arbor Realty to convert part of its 474,455-square-foot office campus at 9200–9500 South Dadeland Blvd. into 212 apartments. The three-year loan supports one of South Florida’s first major office-to-residential conversions, with construction now underway on the 8.3-acre Dadeland site.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,000,000.00

Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00