MIAMI—As Miami's office market continues to recover, Dadeland West Executive Park just got refinanced. Starwood Mortgage Capital provided the partial interest-only, 10-year $14 million loan, at an aggressive interest rate.
CBRE Debt & Structured Finance originated the loan on behalf of The Green Companies to refinance six office buildings within the park. The park is located 10625-10691 North Kendall Drive in Miami, FL.
“The assets within this prime executive office community have enjoyed high historical tenant retention ratios and exceptional occupancy,” says Charles J. Foschini, CBRE vice chairman. “This loan offers our clients the ability to capitalize on historically low rates.”
The six office buildings span 109,469 square feet within the nine-building Dadeland West Executive Park. The Green Companies developed the buildings from 1979 to 1982. Located in the Kendall submarket at the prime intersection of North Kendall Drive (Southwest 88th Street) and Southwest 107th Avenue, the property has 121 tenants.
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