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Florida & Gulf Coast  + South Florida  + Finance  | 
A10 Capital has closed a $113 million bridge loan to refinance a construction loan on The Gateway at Wynwood office building in Miami, FL.

A10 Capital Funds $113M Bridge Loan for Class A Office Building in Miami

A10 Capital, a commercial real estate lending business that provides permanent and bridge loans nationwide, has closed a $113 million bridge loan to refinance a construction loan on the Gateway at Wynwood. The 224,880-square-foot Class A office is located in the Wynwood submarket of Miami, FL.

Charles Foschini, Robert Ludice, Chris Apone of Berkadia represented sponsor Rose & Berg Realty Group LP.

Gateway at Wynwood serves as the primary collateral. The property sits at 2916 N Miami Avenue in Miami’s gentrifying Wynwood corridor and close to both the I-195 North Miami Avenue exit and the future Wynwood Brightline station.

The property is 57% leased so the loan was structured as a three-year bridge with $11 million of future TI/LC facilities to cover future tenant improvement and leasing commission costs on the remaining vacant space. The loan was non-recourse despite having a DSCR less than 1.0x. 

 “We are grateful for both the Berkadia team and R&B Realty trusting A10 to get this complicated loan closed during these unprecedented times,” said Tommy Mello, EVP of A10 Capital.


Inside The Story

A10 Capital's Mello

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.