First National Bank Refinances Mixed-Use Property On Española Way In Miami Beach For $15M

The transaction involves a mixed-use asset located at 401 Española Way, Miami Beach. The property is part of an iconic lifestyle retail strip known for its charming Spanish French style architecture and pedestrian-friendly environment. The loan amount secured for the refinance is $15,000,000 with a fixed rate for a term of 10 years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $15,000,000
• Lender: First National Bank - South Miami
• Landlord: Scott Robins Companies
• Broker: Scott Wadler, Matt Nihan & Mike Basinski - Berkadia
• Loan Type: Refinance
• Loan Terms: 10 years, fixed rate

The brokers involved in the transaction are Scott Wadler, Matt Nihan, and Mike Basinski, representing the deal on behalf of Berkadia. This loan reflects an investment in a prominent location within South Beach, enhancing the appeal of the asset's current use and future potential.