Brickell Bay high-rise office building

Office | Miami, Florida

Investment highlights

  • The property is situated in the Miami-Dade County office market, which has seen a recent increase in global tech and cryptocurrency occupants.
  • Amenities include on-site parking, a ground floor bank branch, 24-hour security, on-site management, dry cleaning pick up and drop off and an on-site café with outdoor seating overlooking the bay.
  • Having had a large influx of technology companies, such as Uber, Microsoft and Salesforce, move into the office submarket, Brickell Bay is now the third most densely populated submarket in the country after New York and San Francisco.

Investment details1

Total loan size
$91,100,000
Purpose
Acquisition financing
LTV
55.9%
Square feet
295,825
Portfolio weight
1.0%
Description
Class A offices with unobstructed views of Brickell Bay in Miami, FL

  • As of September 30, 2023. Portfolio weight is based on the amortized cost of the funded portion of the loan.

  • Class A buildings represent the highest-quality buildings in their market and area. They are generally properties built within the last 15 years with top amenities, high‑income tenants and low vacancy rates. Class A buildings are well-located in their market and are typically professionally managed.

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