WMP I (Whalou Properties Management) has secured a $113.6 million refinancing for Mayfair in the Grove, a recently renovated mixed-use property in Coconut Grove. The landmark complex totals 288,046 square feet and has undergone a substantial repositioning aimed at enhancing its retail, hospitality and experiential offerings.
The property completed a $37 million renovation program in 2025. The work included a full refresh of the retail Promenade as well as upgrades to the open-air lobby and the overall arrival experience, positioning the asset as a more modern destination for visitors and tenants. These changes were designed to better integrate the project's various uses and improve circulation throughout the complex.
Mayfair in the Grove is anchored by a broad mix of uses and lifestyle features. The property offers eight on-site food and beverage concepts, providing a range of dining options for office users, shoppers and hotel guests. It also has direct connectivity to the Mayfair House Hotel & Garden, a 179-room, Two-Michelin-Key hotel that further reinforces the asset's profile as a hospitality and leisure hub.
Occupancy at Mayfair in the Grove stands at 98% following the renovation, with tenancy described as a diverse roster of brand-name users. The asset benefits from a weighted-average lease term of 8.1 years, providing a measure of income visibility and stability for the ownership and its new lender over the medium term.
CBRE Capital Markets' Debt & Structured Finance team arranged the refinancing. CBRE professionals Amy Julian and Andrew Chilgren represented WMP I in the transaction, advising the ownership on the capital structure and execution. The property's leasing agent, Chris Dekker of Mayfair Advisors, also assisted in the transaction and will continue to handle leasing at the complex.
Guggenheim provided the $113.6 million loan, delivering fresh long-term capital to Mayfair in the Grove after its 2025 renovation. The new financing follows a period of significant investment in the property and reflects lender interest in highly leased, amenity-rich mixed-use assets supported by strong hospitality and retail components.
