Panorama Tower
Update
02/22/24
Greystone Closes $419.6 Million Financing Package for Class A+, Mixed-Use Multifamily Complex in Miami, Florida
Greystone Commercial Capital (GCC) has closed a $419,590,000 transaction to refinance Panorama Tower, located on Brickell Bay Drive in Miami, Florida. The property is an 85-story, Class A+, mixed-use, residential complex featuring 821 multifamily residences, 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. The deal included a structured Agency loan in tandem with an investment led by a global pension fund.
GCC is a division of Greystone that focuses on structured commercial mortgages for institutional clients across all major property types. This transaction consisted of a $334,590,000 Freddie Mac Optigo® senior loan funded by Greystone Servicing Company LLC that carries a five-year term and 35-year amortization combined with $85,000,000 of Agency-compliant subordinate debt.
“GCC delivered a market leading and innovative structured finance solution. We are grateful to partner with top financial institutions and Florida East Coast Realty on such a noteworthy project in Panorama Tower,” said Scott Chisholm, President and Chief Investment Officer at Greystone Commercial Capital.
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
Photo: Panorama Tower
