Blackstone’s Perform Properties has secured a $154 million refinancing loan backed by the office components of the MiamiCentral mixed-use development. The financing covers the assets known as 2 and 3 MiamiCentral, which comprise two mid-rise office towers within the broader urban project. Eastdil Secured arranged the new debt package, while CIM Real Estate Debt Solutions provided the loan funding.
The two office buildings at MiamiCentral include a 17-story tower totaling 196,000 square feet of office space, alongside a second tower that rises 12 stories and contains just over 100,000 square feet of office space. The properties were delivered in 2018 and are part of a larger master-planned, mixed-use destination that combines office, retail and residential space.
According to prior reporting cited in the article, funds managed by Blackstone acquired the office assets at 2 and 3 MiamiCentral in 2021 from Shorenstein Properties in a transaction valued at $230 million. That earlier acquisition was supported by a $159 million loan originated by Natixis, underscoring the properties’ institutional ownership and financing history. The new loan from CIM Real Estate Debt Solutions replaces that earlier debt and refreshes the capital structure on the twin office towers.
In addition to their office footprints, the two buildings at 2 and 3 MiamiCentral incorporate 33,000 square feet of retail space. The project offers a range of shared amenities for office users, including wellness and fitness facilities, an outdoor roof deck, private work lounges, conferencing space, concierge services, valet parking and secure garage access. These features are positioned to support modern tenant expectations for amenitized, highly serviced office environments.
The office and retail components sit within the larger 3 million-square-foot MiamiCentral development, which brings together multiple uses in a single, integrated setting. The overall property includes a Publix supermarket, Starbucks, Chick-fil-A, an approximately 18,000-square-foot food hall and more than 800 luxury residential units. This concentration of food, beverage, grocery and residential offerings helps underpin the mixed-use character of the project and may contribute to the appeal of the office space located at 2 and 3 MiamiCentral.
By refinancing the office towers with new capital from CIM Real Estate Debt Solutions and using Eastdil Secured as the intermediary, Perform Properties has reset financing on a pair of relatively new office assets within a substantial mixed-use complex. The transaction highlights continued lender and institutional owner engagement with well-amenitized office product integrated into large-scale, mixed-use environments.
