MIAMI—Brickell City Tower's strategic location may have played a role in securing a $47 million bridge loan for its owners. The office building is located directly across the street from Swire's $1.05-billion, 5.4-million-square-foot, mixed-use project currently under construction.

CBRE's Debt & Structured Finance Group secured the bridge loan behalf of 80 SW 8th Street, LLC, a joint-venture partnership between Banyan Street Capital, Independencia, Silverpeak Real Estate Partners, and Crocker Partners, to refinance the class A, 33-story office tower in Miami's financial district. Ares of Chicago originated the loan, which is floating over Libor, at what CBRE called “aggressive” rates and terms.

”The revised loan is a reflection both of the skill of the operator for creating value where others saw only the office building and a testament to the lightning quick return of the Brickell marketplace as a vibrant 24-hour city to live, work and play,” says CBRE vice chairman Charles Foschini, who arranged the loan. Known until early March as Brickell Bayview Centre, the 285,529-square-foot Brickell City Tower is on Southwest 8th Street, just blocks from Interstate 95.