The Green Companies Secures $51.5 Million Refinance Loan From Goldman Sachs For Dadeland Centre Offices
9150 South Dadeland Boulevard
$51,500,000
$212/SF
Building Size
242,598 SF
Asset Type
Office
Closing
Apr 22, 2025
AI
The Dadeland Centre I and II office towers, located at 9155 & 9150 South Dadeland Boulevard in Miami, consist of 242,598 square feet. The properties are currently 93% leased and are part of a county ground lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $51,500,000
- Lender: Goldman Sachs
- Landlord: James Bernstein & Elizabeth Green - The Green Companies
- Broker: Paul Stasaitis - JLL
- Loan Type: Refinance
- Loan Terms: 10-year, fixed-rate
The refinance loan was arranged by Paul Stasaitis of JLL, representing the landlords. This financial maneuver aims to optimize the leasing potential of the office towers in the competitive Miami market.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93