TIAA provides $80m in refinancing for Midtown 29 in Miami
Published at: 2019-08-30 15:38 | Author: CIJ USA
An $80 million loan has been granted to the Morgan Group and Mesirow Financial to refinance a Miami property called Midtown 29. The funding replaces a $70.8 million construction loan the duo landed in 2016. Located at 180 Northeast 29th Street in Miami, the 20-story, mixed-use building was completed in February 2018. The asset includes 309 apartment units along with 12,000 sqf of retail space on the ground floor and a six-story parking garage. Amenities include a pool and spa with private cabanas, an outdoor bar, grilling stations, fire pit, and a gym. The joint venture secured the financing from TIAA.
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