Airport Corporate Center Secures $91M Refi Loan

MIAMI-Miami RPFIV Airport Corporate Center has obtained $91 million in refinancing for Airport Corporate Center, a more than one-million-sf, mixed-use business park in the city.

Lehman Bros. Bank FSB provided the funding for the 11-building portfolio. Managing director Paul Stasaitis and associate Todd Adams of the local office of Holliday Fenoglio Fowler LP, a commercial real estate capital intermediary, secured the refinancing, which consisted of a five-year, 4.78%, interest-only, fixed-rate securitized loan. The Boston office of Holliday Fenoglio Fowler assisted on the deal.

Miami RPFIV Airport Corporate Center, a sole-purpose entity, is controlled by an undisclosed institutional owner. It consists of class A and class B office, office service and warehouse space spanning 50.3 acres, with most of the park consisting of office space. The property is located at the west end of Miami International Airport. Besides the airport, tenants on the property also have quick access to the Palmetto Expressway and Route 836.