Terra has secured a $183.75 million refinancing for The Offices at THE WELL Bay Harbor Islands, the Class A office component of its mixed-use project in Bay Harbor Islands. The new loan was provided by Monroe Capital and recapitalizes the recently delivered office asset. Walker & Dunlop Capital Markets Institutional Advisory represented Terra on the transaction, with a team led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, and Jordan Casella.
The Offices at THE WELL Bay Harbor Islands is part of a broader mixed-use development that was delivered over the summer. The project includes 96,000 square feet of newly built Class A office space and an eight-story residential component containing 65 luxury residences. The overall development also incorporates more than 22,000 square feet of amenities, positioning the property as a high-end, wellness-oriented destination within Bay Harbor Islands.
Leasing momentum at the office component has been strong following completion. The Offices at THE WELL is now reported to be more than 90% leased, with a roster of financial and investment-focused tenants. Office users at the property include Man Capital LLP, Dwight Capital, TEB Capital Management, NewCo Capital Group, and Legacy Wealth Advisors. This tenancy mix reflects demand from capital markets, wealth management, and credit-oriented firms for high-quality, modern office environments in well-amenitized settings.
The ground floor of the project is also programmed with additional uses to support both office tenants and residents. It is set to become the future home of The Golden Good Market and THE WELL Club, which are both expected to open in 2027. These forthcoming ground-floor offerings are designed to complement the existing amenity base and further integrate the office and residential components within the same property.
By refinancing The Offices at THE WELL Bay Harbor Islands with a single $183.75 million loan, Terra has locked in new capital on a recently delivered, largely leased office asset. The involvement of Monroe Capital as lender and Walker & Dunlop Capital Markets Institutional Advisory as advisor underscores the role of specialized debt providers and institutional advisory teams in sourcing and structuring financing for mixed-use projects that combine premium office, residential, and amenity space. The transaction highlights how stabilized occupancy and an established tenant roster can support large-scale refinancing activity even shortly after project delivery.
