MIAMI—Dadeland Center II, a 113,691-square-foot, class A office property in Miami, has won the confidence of investors. The Green Companies secured a $25.2 million loan refinancing on the asset.
HFF represented Green. The firm placed a 10-year, fixed-rate loan through New York Life Real Estate Investors. HFF arranged refinancing for Dadeland Center I, a neighboring building controlled by the same owner, in early 2015.
"With over 60 years of experience and 2 million square feet of successful office and mixed-use projects to their name, The Green Companies is a highly sought after sponsor and garnered significant interest from a variety of capital sources," HFF associate director Jose Carrazana tells GlobeSt.com. Carrazana and HFF senior managing director Paul Stasaitis led the charge.
Dadeland Centre II is located at 9150 South Dadeland Boulevard. That's within walking distance of the Dadeland South Miami Metrorail station, which offers access to Downtown Miami and the greater Miami area including Coral Gables, Brickell Financial District and the Miami International Airport.
The office property is both accessible and visible from the Palmetto Expressway, US-1, Dadeland Mall and the Baptist Health Cancer Facility. Dadeland Centre II was built in 2008 and features hurricane resistant glass and 250 covered parking spaces. The property is 84% leased to tenants including Cole, Scott & Kissane, and Credomatic of Florida.
"Dadeland Centre II, like its sister property, represents a best in class location within the Dadeland submarket," says Stasaitis. "Its close proximity to executive housing as well as mass transit, resulted in very favorable debt capital interest."
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