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318 Northwest 23rd Street

Moishe Mana Secures $150 Million Refinance Loan For 56 Properties In Miami's Wynwood District
FINANCEDPackage Deal

Moishe Mana Secures $150 Million Refinance Loan For 56 Properties In Miami's Wynwood District

318 Northwest 23rd Street

$150,000,000

Building Size

Asset Type

Package Deal

Closing

Jul 15, 2025

AI

A refinancing loan of $150,000,000 was secured for a package deal consisting of 56 properties located in Miami’s Wynwood district. This portfolio excludes the Mana Wynwood Convention Center and is part of ongoing redevelopment efforts in the area, including plans for a community project centered around arts.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $150,000,000
  • Lender: WFL Lender
  • Landlord: Moishe Mana - Mana Common
  • Loan Type: Refinance

Moishe Mana previously paid off a $275 million line of credit from Centennial Bank prior to securing this loan. This transaction is part of a broader plan by Mana to redevelop Wynwood’s aging warehouses.

Players

WL
WFL LenderLender

Moishe Mana

Mana Common

Landlord

$915.4M

vol

29 deals

Landlord
MC
Mana CommonLandlord

Miami Package Deal Market Snapshot

Boundary boundary · Package Deal · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93