MIAMI-In a testament to the strength of Miami’s Airport West submarket, the Airport Corporate Center, an 11-building, class A office portfolio next to the Miami International Airport, has secured $79 million in financing. The borrower, a subsidiary of Hines REIT, secured a 10-year, fixed-rate loan.

HFF arranged the deal with John Hancock Life Insurance Company for the Hines subsidiary. Loan proceeds are retiring existing financing set to mature in March 2012. The HFF senior managing director Paul Stasaitis led the negotiations. HFF directors Chris Drew and Ignacio Portuondo assisted in the deal.

Airport Corporate Center is one of the most prominent and highly recognized office parks in Airport West, and Hines’ reputation as an operator helped get the $79 million deal done, according to Stasaitis: “Lenders today have many choices on where to direct their capital, as such, providing thoroughly presented opportunities backed by top-rate sponsors with highly desirable real estate, ultimately leads to best-in-class results for both borrower and lender.”