Blackstone Grants $100 Refi for Iconic Florida Office Asset
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CBRE recently announced that it has arranged a $100 million refinancing loan for Douglas Entrance, a five-building, Class A office property located in Coral Gables, Fla. The floating rate loan was provided by Blackstone Group and was secured shortly after the completion of a $7 million renovation project.
“Blackstone’s desire to recommit new capital to the sponsor and the property is further evidence of Douglas Entrance’s appeal and stature, serving as the entrance to Coral Gables,” said Amy Julian, vice president at CBRE, in prepared remarks. “Additionally, it demonstrates Miami’s desirability and stability from a financing standpoint.”
Christian Lee, Amy Julian and José Lobón of CBRE’s South Florida Capital Markets team arranged the refinancing. CBRE also handles the office leasing at Douglas Entrance…
