CIM Group announced that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $154 million whole loan to refinance 2 and 3 MiamiCentral, two Class A office towers totaling approximately 339,000 square feet in Downtown Miami.
The properties, completed in 2018, include the 17-story 2 MiamiCentral with approximately 196,000 rentable square feet of office space and 5,000 square feet of amenities, and the 12-story 3 MiamiCentral with approximately 105,000 rentable square feet of office space, 33,000 square feet of retail, and 1,357 parking spaces.
The towers feature modern office layouts with floor-to-ceiling windows and provide tenants with a range of amenities, including wellness and fitness facilities, rooftop outdoor space, private work lounges, conferencing areas, concierge services, valet parking, and secure garage access.
Located within the broader MiamiCentral mixed-use development, the properties benefit from proximity to retail and residential offerings, including a Publix supermarket, Starbucks, Chick-fil-A, an approximately 18,000-square-foot food hall, and more than 800 residential units.
The site is adjacent to MiamiCentral Station, a major transit hub providing access to Brightline, Tri-Rail, Metrorail, Metromover, and Metrobus services, as well as convenient connectivity to Interstate 95 and Interstate 395. The location also offers access to key areas such as the Brickell Financial District, Miami Beach, Midtown, Wynwood, and the Design District.
The financing was arranged by Eastdil Secured and reflects CIM Group’s continued focus on providing customized lending solutions for high-quality office assets in major U.S. markets. Through its real estate debt platform, the firm provides bridge and construction financing to commercial real estate owners and developers, leveraging its experience as an owner, operator, and developer.
CIM Group stated that its lending strategy emphasizes flexibility and collaboration with borrowers to deliver tailored financing solutions across a range of asset types and markets.
