Michael Comras Of Comras Company Secures $117M Loan From ACORE Capital For Retail Micro-District In Miami Beach

The transaction involves the acquisition of five properties located at 600, 719-737, 741, 801–821, 826–838 Lincoln Road and 723 North Lincoln Lane in Miami Beach. The retail asset encompasses a total area of 150,000 square feet and was acquired for a price of $140 million. A $117 million loan was secured from ACORE Capital to facilitate this transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $140,000,000
• Loan Amount: $117,000,000
• Address: 600, 719-737, 741, 801–821, 826–838 Lincoln Road & 723 North Lincoln Lane
• Market: Miami Beach
• Landlord: Michael Comras - Comras Company
• Lender: ACORE Capital

Michael Comras, representing Comras Company, plays a significant role in this transaction through the acquisition and planned repositioning of these properties into a retail “micro-district” called NoLi, which will feature over 40 storefronts, dining, wellness, and lifestyle concepts, enhancing the local community environment.