J.P. Morgan Asset Management Refinances Gio Midtown Multifamily Asset In Miami

The multifamily property located at 3131 Northeast 1st Avenue in Miami, known as Gio Midtown, spans 436,000 square feet and consists of 447 units. The property was refinanced for $147,700,000 with a five-year fixed-rate loan provided by PGIM. The landlord, J.P. Morgan Asset Management, was represented by Tom Rugg, Tom Traynor, Adam Spengler, and Arman Samouk from CBRE.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $147,700,000
• Market: Miami
• Lender: PGIM
• Landlord: J.P. Morgan Asset Management
• Landlord's Rep: Tom Rugg, Tom Traynor, Adam Spengler & Arman Samouk - CBRE
• Loan Type: Refinance
• Loan Terms: Five year, fixed rate

The individuals instrumental in this transaction were Tom Rugg, Tom Traynor, Adam Spengler, and Arman Samouk from CBRE, who represented the landlord, J.P. Morgan Asset Management. The loan for the refinancing was provided by PGIMfor the multifamily property located in Miami at Gio Midtown.