Saturday, June 20, 2015

HFF arranges $31 million refinancing for Class A office in Miami’s Dadeland submarket



Dadeland Center I, 9155 South Dadeland Boulevard, Miami, FL

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $31 million refinancing for Dadeland Centre I, a 130,000-square-foot, Class A office property in Miami, Florida.

Paul Stasaitis

HFF worked on behalf of the borrower, The Green Companies, to secure the 10-year, fixed-rate loan through New York Life Real Estate Investors. 

Dadeland Centre is located at 9155 South Dadeland Boulevard adjacent to the Dadeland South Miami Metrorail Station providing access to downtown Miami and as far north as Palmetto.

The property is highly visible from the Palmetto Expressway, and is close to US 1, the Dadeland Mall, Baptist Health Cancer Facility, Miami International Airport and Coral Gables.  

Completed in 2001, Dadeland Center I is 95 percent leased to tenants including Symantec, Ingham & Company and Eastman Chemical.

 The property features hurricane resistant glass, nine-foot ceilings, 400 covered parking spaces, and skyline and water views.  A $500,000 renovation to the property’s interior is currently underway.

Jose Carrazana

The HFF debt placement team representing the borrower was led by senior managing director Paul Stasaitis and associate director Jose Carrazana with additional support from real estate analysts Maxx Carney and Cecily Nazario.
 
“Capital providers held a very positive view of this loan request, essentially for many of the same reasons tenants enjoy a presence at the property, including a highly desirable transit-oriented location, dedicated hands-on ownership/management, and high-level building quality,” said Stasaitis. 

As one of Miami’s oldest real estate development and management firms, The Green Companies is a “best-in-class” sponsor with a long-term ownership philosophy and has built a reputation throughout the real estate community as one of the area’s most skilled operators and prolific developers of high quality real estate assets.

 With over 60 years of experience and more than two million square feet of highly successful office and mixed-use projects to their name, including Datran I and II, Dadeland Centre I and II, The Towers of Dadeland, and The Greenery Mall.

The Green Companies negotiating team was led by James Bernstein, Brian Bernstein and Elizabeth Green. 

For a complete copy of the company’s news release, please contact:  
  
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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