Greystone Secures $419M Refi for Miami Tower

Greystone Commercial Capital (GCC) has closed a $419 million transaction to refinance Panorama Tower, located on Brickell Bay Drive in Miami, Florida. The property is an 85-story, Class A+, mixed-use residential complex featuring 821 multifamily residences, 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. The deal included a structured Agency loan in tandem with an investment led by a global pension fund.

This transaction consisted of a $334 million Freddie Mac Optigo® senior loan funded by Greystone Servicing Company LLC that carries a five-year term and 35-year amortization combined with $85 million of Agency-compliant subordinate debt.

“GCC delivered a market-leading and innovative structured finance solution. We are grateful to partner with top financial institutions and Florida East Coast Realty on such a noteworthy project in Panorama Tower,” said Greystone’s Scott Chisholm.

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