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Kushner, PTM Obtain Financing on Biscayne Bay Rental Community
Corebridge Financial provided $87.3 million to refinance 2000 Biscayne, a newly built, Class-A multifamily building totaling 420 units in Miami, Florida. A joint venture team of Kushner Companies and PTM Partners was the loan sponsor.
Walker & Dunlop New York Capital Markets, led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Jordan Casella, Christopher de Raet, and Stanley Cayre, was the joint venture’s exclusive advisor.
The 36-story residential tower features 420 apartments across 353,329 rentable square feet. The unit mix includes 75 studios, 204 one-bedrooms, 129 two-bedrooms and 12 three-bedrooms. Residents enjoy a wide range of indoor and outdoor amenities, including co-working spaces, community dining areas, a fitness center with locker rooms, a spa, a game room, a children’s play area, pet spa, dog park and more.
In 2024, Walker & Dunlop’s Capital Markets team sourced over $16 billion from non-Agency capital providers.
- ◦Financing
