Dacra’s $44M Mixed-Use Refi a Thing of Beauty in Miami Design District
Dacra has secured a $43.6 million loan to refinance a 112,896-square-foot, mixed-use property located in the Miami Design District.
Scott Wadler, Matthew Nihan and Michael Basinski of Berkadia arranged the financing on behalf of Dacra, a pioneer of the Miami Design District that owns well over one million square feet.
LMF provided a 10-year, fixed-rate loan, which provides Dacra with permanent refinancing.
“4141 N.E. 2nd Avenue is a stabilized asset in one of the most desirable, luxury retail districts in the entire US,” said Wadler. “The property has been heavily re-tenanted in recent years to elevate value, as the Miami Design District has continued to drive rental rates with its evolution towards high end designer fashion and art.”
The property is located at 4141 N.E. 2nd Avenue and consists of a combination of office and retail tenants including B&B Italia, Design Within Reach, iHeart Media and MC Kitchen.
