HFF arranges $22 million construction loan for mixed-use urban development in Miami
MIAMI, FL – May 1, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $22 million in construction financing for the development of Wynwood Garage, a mixed-use, urban development containing a 430-stall parking garage, 30,000 square feet of Class A creative office space and 23,000 square feet of ground-floor retail space in Miami’s Wynwood neighborhood.
HFF worked on behalf of the developer, Goldman Properties, to place the loan with a financial institution.
Upon completion, Wynwood Garage will stand eight stories and be Wynwood’s first and only structured parking garage. The building will feature an artistic façade custom designed by Faulder’s Studio in Oakland, California, that will distinguish itself as Wynwood’s newest landmark. Wynwood Garage will be constructed on NW Third Avenue between NW 26th and 27th Streets and will provide much-needed retail, office and parking space in one of Miami’s most popular destinations.
The HFF debt placement team was led by senior managing director Chris Drew and associate director Brian Gaswirth.
As the original incubator of Wynwood, Goldman Properties has once again successfully capitalized another project that will serve as a catalyst that will continue to propel the neighborhood into Miami’s epicenter for arts and culture,” Drew said. “Wynwood’s continued growth is now supplemented with additional dedicated parking for visitors since current lots are taken offline for other developments.”
About Goldman Properties
On December 1, 1968, Tony Goldman opened Goldman Properties in a 200-square-foot office space with one employee on the ground. His love for historic preservation had begun. In the more than 40 years of Goldman Properties history, the company has created magic in places that others have overlooked. Goldman Properties recognizes that real change occurs when a neighborhood is pedestrian based, that is the Goldman philosophy. Street life has to be real, there has to be grit, energy and a true sense of place. The company creates neighborhoods where people and businesses flourish. Goldman Properties thinks big, but keep the scale human. It strives to add value to the public environment, by doing things that are bold and different and unlike anything ever done before. That is Goldman Properties’ purpose, that is its philosophy and that is its commitment. For more information, visit goldmanproperties.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.