HFF Secures $22M for Miami Mixed-Use Development
- May 03, 2017
HFF has arranged a $22 million mortgage for the construction of Wynwood Garage, a mixed-use, urban development in Miami’s Wynwood neighborhood. The new building will comprise 30,000 square feet of Class A creative office space, 23,000 square feet of ground-floor retail and a 430-stall parking garage.
Sabadell United Bank provided the construction financing, according to public records. HFF worked on behalf of the developer, Goldman Properties, with Senior Managing Director Chris Drew and Associate Director Brian Gaswirth leading the HFF debt placement team.
“As the original incubator of Wynwood, Goldman Properties has once again successfully capitalized another project that will serve as a catalyst that will continue to propel the neighborhood into Miami’s epicenter for arts and culture,” said Drew in prepared remarks. “Wynwood’s continued growth is now supplemented with additional dedicated parking for visitors since current lots are taken offline for other developments.” he added.
Wynwood Garage will rise on Third Avenue, between NW 26th and 27th streets. It will be Wynwood’s first and only structured parking garage and will provide much-needed retail, office and parking space in one of Miami’s most popular destinations. Upon completion, the development will stand eight stories tall and will feature an artistic façade, custom-designed by Oakland-based Faulders Studio.
Rendering courtesy of Faulders Studio