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Florida & Gulf Coast  + South Florida  + Retail  |  December 16, 2019
David Cohen
By: David Cohen

CushWake Secures $26M Refinancing for Miami Beach Retail Center

Cushman & Wakefield has secured a $26.1 million loan to refinance 1824 Alton, a new urban retail center in Miami Beach.

1824 Alton is a 109,961-square-foot retail center designed by Miami architect Kobi Karp. The property was completed in late 2018, and is comprised of a five-story building with three levels of parking above 31,841 square feet of retail space. The center is currently 94% leased to a tenant roster that includes Michaels, Citibank and Starbucks.

Jason Hochman and Michael Ciadella of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the refinancing through lender Starwood Mortgage Capital, on behalf of an affiliate of Saber Real Estate Advisors LLC. Terms of the loan included a 10-year term and a fixed interest rate.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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