$38MM Retail Recapitalization | Miami, FL

Structured and arranged medium-term, fixed-rate senior debt to recapitalize a 120,000-square-foot shopping center located in Miami, Florida.



The borrower was seeking high-leverage, long-term fixed-rate financing even though the property was in a transitional stage. The L-shaped anchor tenant space was vacant and although several tenants had signed leases, they had yet to take possession. Additionally, a number of leases had termination options set in the same year, which, if exercised, had the potential to create a significant vacancy.

$38MM Retail Recapitalization | Miami, FL


Identified a CMBS lender who was willing to structure an initial interest-only period, holdbacks, and reserves to carry the property through the transitional period to its near-term stabilization. Local market data substantiated the higher than average rents and value of the property thereby allowing the borrower to achieve higher than expected proceeds.

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