Refinancing of 40 Properties in Miami's Design District

Miami Design District Associates
Representation of Miami Design District Associates, a joint venture between Craig Robins of Dacra and L Real Estate, a global real estate development fund, in their efforts to transform a neglected downtown area into a high-end shopping destination by refinancing more than 40 properties in the Miami Design District. The financing consisted of two new loans, including a $251,500,000 construction loan, that were used, in part, to release an existing CMBS loan and satisfy another loan used for acquisition financing. At the time of financing, this transaction involved the largest construction financing since the real estate crash in 2008.
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