The HFF capital markets team was led by executive managing director Manny de Zárraga, senior managing director Chris Drew, managing director Jim Dockerty and director Matthew McCormack.

“The loan marks the official launch of the Bal Harbour Shops expansion and represents the growth and strength of Miami's retail real estate market,” HFF's Drew says. “As the climate shifts for many traditional retail centers across the US, Bal Harbour Shops maintains its position as the most successful, high-end shopping destination in Florida and one of the most productive in the world. The Shops continues to experience intense demand from both existing tenants and retailers that have been waiting years to join its roster, and we are excited that this loan will allow Whitman Family Development's expansion plan to come to fruition.”

Bal Harbour Shops has operated at 100% occupancy for several decades with a waiting list. In addition to the anchor tenants, the property is home to more than 100 global, high-fashion boutiques and brands, including Chanel, Gucci, Van Cleef & Arpels, Tiffany & Co., Salvatore Ferragamo and Valentino. The destination also boasts the highest concentration of restaurants in Bal Harbour.

MetLife Investment Management's Arun Singh, vice president for the Southeast Region, and Jay Gadsby, director, originated the loan on behalf of MetLife Investment Management.

“We're delighted to support the expansion of one of the nation's leading luxury shopping centers in the US,” Singh said.  “This development will support the local economy and ensure that Bal Harbour Shops remains a destination of choice for many years to come.”

Bal Harbour, which is located at 9700 Collins Ave. on 17.42 acres, was completed in 1965 as the first all-luxury fashion shopping center. The Shops is within one mile of numerous five-star hotels, including The St. Regis Bal Harbour, the Ritz Carlton Bal Harbour and The Four Seasons Hotel at the Surf Club.