CMC Group has successfully secured a $69.9 million loan from City National Bank of Florida (CNB) for the refinancing of 4000 Ponce/The Collection, a nine-story mixed-use office and retail development in Miami’s desirable Coral Gables neighborhood. The property was developed by CMC Group in 2002.
Strategically located at the intersection of Ponce de Leon Boulevard and Bird Road, 4000 Ponce boasts over 150,000 square feet of top-notch office space and an additional 32,000 square feet dedicated to premier ground-floor retail. Currently boasting an impressive occupancy rate exceeding90%, notable tenants include Steinway & Sons,Coldwell Banker,Hemisphere Media Group,Korn Ferry,Evensky & Katz,Pure Barre,and Jetset Pilates.
JLL Capital Markets expertly facilitated this five-year floating-rate senior loan through City National Bank on behalf of CMC Group.Paul Stasaitis led JLL Capital Markets’ Debt Advisory team representing the borrower while Jim Shindelland Hannah Lidickerof Bilzin Sumberg also represented CMC Group.
The article “CMC Lands $69.9M Refi for Coral Gables Development” originally appeared on Connect CRE.
