CBRE Secures $37M Loan for Miami Asset
- Sep 17, 2019
CBRE Senior Vice Presidents Paul Ahmed and Amy Julian, together with Senior Financial Analysts Andrew Chilgren and Mackenzie Fry, have arranged a $37 million loan for Giralda Place, a recently completed office building in Coral Gables, Fla. Nationwide Mutual Insurance Co. originated the long-term, fixed-rate loan for HEC Finances.
The property is situated at 2222 Ponce De Leon Blvd., on the city’s Restaurant Row, steps from the intersection of Ponce de Leon Boulevard and Miracle Mile. The asset is part of the larger Giralda Complex and consists of two Class A office towers totaling 92,222 square feet, one of which was renovated in 2017. Approximately 19,000 square feet of ground-floor retail and an attached parking component providing space for 338 vehicles complete the development. According to Yardi Matrix data, the asset was previously subject to a $25 million construction loan held by City National Bank of Florida.
Giralda Place is almost fully leased by a number of companies including WeWork, HSBC Bank, Rukus Cycling and Seaside National Bank. Cushman & Wakefield leads the leasing efforts at the building.
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