Kushner Companies And PTM Partners Secure $87.3M Loan From Corebridge Financial For Miami Multifamily Tower

The asset involved in this transaction is a multifamily property located at 251 Northeast 20th Street in Miami, which consists of 420 units. The loan amount secured for this property is $87.3 million and is part of a larger debt total of $139.3 million, primarily for the luxury tower known as 2000 Biscayne. This facility was delivered in October 2024 and is now reported to be 75% leased.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $87,300,000
• Market: Miami
• Asset Address: 251 Northeast 20th Street
• Units: 420
• Lender: Corebridge Financial
• Landlord: Laurent Morali & Nicole Kushner Meyer - Kushner Companies; Michael Tillman - PTM Partners
• Brokers: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Jordan Casella, Christopher de Raet & Stanley Cayre - Walker & Dunlop
• Loan Terms: eight-year

The transaction was facilitated by Walker & Dunlop, which arranged the eight-year, fixed-rate loan. This financing was intended to replace prior leasehold debt on the property and enable further support for the asset's operations and leasing activities.