Oak Row Equities And L&L Holding Secure $335 Million Refinancing For Wynwood Plaza In Miami

The property involved in the transaction is a mixed-use asset located at 95 Northwest 29th Street in Miami, comprising a total square footage of 1,000,000. The property serves both office and multifamily purposes and has undergone refinancing decisions as part of its financial management strategy.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $335,000,000
• Lender: Blue Owl Capital
• Landlord: Erik Rutter & David Weitz - Oak Row Equities; David Levinson & Robert Lapidus - L&L Holding Company; Brandon Shorenstein - Shorenstein; Marcelo Claure - Claure Group
• Loan Type: Refinance
• Loan Terms: Floating-rate
• Market: Miami

The refinancing of the property was facilitated by brokers Dustin Stolly and Aaron Appel from Walker & Dunlop, in conjunction with Yong Cho and Susan Raffo from L&L Holding Company. The loan proceeds will be utilized to retire a previous $215 million construction loan from Bank OZK while also supporting remaining lease-up costs as the office space is currently 60% committed and nearly half of the 509 apartments have been leased.