Moishe Mana Secures $16.3M Loan From Thorofare Capital For Miami Property At 129 E Flagler St

The transaction involves the redevelopment of properties located at 129, 133-139, and 141 East Flagler Street, Miami, FL. The total assemblage consists of three properties, including the historic Shoreland Arcade building, spanning a total of 89,533 square feet on 0.75 acres in the Flagler District. Moishe Mana has secured a loan of $16,300,000.00 from Thorofare Capital to facilitate the redevelopment efforts. The properties are situated in a market noted for its evolving landscape and investment opportunities.

Summary of transation details:

• Property Type: Redevelopment
• Transaction Amount: $16,300,000.00
• Address: 129 E Flagler St, Miami, FL, 33131
• Market: Miami
• Borrower: Moishe Mana
• Lender's Representative: Thorofare Capital, Thorofare Capital, Associate, Thorofare Capital-Thorofare Capital

David Perlman from Thorofare originated the loan, with Denis Barreto and Paul Hachigan leading the underwriting and closing process. Mana, recognized as the largest private landowner in Miami, holds significant adjacent assets to the Shoreland Arcade, where he aims to establish an interconnected retail and entertainment complex. His real estate division is also involved in multiple construction projects within the Flagler District, with expectations for completion in 2022, including public gardens, courtyards, plazas, and various commercial and office spaces.