Timo Kipp Of Whalou Properties Secures $113.6 Million Refinance For Mayfair In The Grove

The 288,000-square-foot Mayfair in the Grove mixed-use property, located at 3354 Mary Street, 2901 Florida Avenue, and 2911 Grand Avenue in Miami, secured a refinancing loan of $113.6 million from Guggenheim Partners Investment Management. This loan replaces an outstanding 2022 loan and includes an additional $41.2 million in new debt. The asset is currently 98% leased following a $37 million renovation and is owned by WMP I, an entity associated with Timo Kipp and Whalou Properties.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $113,600,000
• Lender: Guggenheim Partners Investment Management
• Landlord: Timo Kipp - Whalou Properties
• Brokers: Amy Julian & Andrew Chilgren - CBRE

The refinancing transaction highlights the involvement of key individuals, including landlords Timo Kipp of Whalou Properties and brokers Amy Julian and Andrew Chilgren from CBRE. Their roles contributed to the successful securing of the refinancing and management of the property.