Terra Scores $291M Refi on Centro City

Compass
Jan 06, 2025

Terra secured $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana. 

JVP Management has issued a $187 million loan for the development’s multifamily residential component, and Hudson Bay Capital issued a $104 million loan for the retail component. The two loans will pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies. 

Now complete, Centro City’s first phase includes 350,000 square feet of revamped and newly built retail space, along with three 8-story multifamily buildings with 470 market-rate apartments.

A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the transactions. Holland & Knight partners Joe Dewey, Brett Holland, Shawn Amuial and Shaina Kamen, and associate Brian Piper, led the firm’s representation of Hudson Bay Capital.

The post Terra Scores $291M Refi on Centro City appeared first on Connect CRE.

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