JSB Capital has completed a $238 million refinancing for The Landmark South, a 631-unit Class A multifamily community in Doral, Florida. The transaction recapitalizes a large, recently built apartment property in one of Miami-Dade County’s most institutionally sought-after rental submarkets.
The Landmark South consists of one-, two- and three-bedroom residences that average 1,017 square feet. The community was delivered in two phases, with the first phase completed in 2017 and the second in 2021, positioning the asset as a relatively new, large-scale rental option within the Doral market.
The refinancing was arranged by Walker & Dunlop Capital Markets Institutional Advisory. The advisory team included Aaron Appel, Michael Stepniewski, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Sean Bastian and Stanley Cayre. The group structured a floating-rate, interest-only bridge loan for JSB Capital, with Torchlight Investors providing the capital.
Community amenities at The Landmark South include two resort-style swimming pools, two 24-hour fitness centers and multiple outdoor courtyards. Residents also have access to a business center, pet spa, resident lounges and structured parking, aligning the property with Class A expectations in terms of on-site offerings and convenience.
The property is situated in the heart of Doral, described as one of Miami-Dade County’s most institutionally sought-after multifamily submarkets. The location benefits from high homeownership costs and limited new multifamily supply, factors that, along with continued population growth, are cited as supporting long-term rental demand in the submarket.
Doral offers connectivity to several of Miami’s primary employment corridors via major transportation arteries, including the Palmetto Expressway, Dolphin Expressway and Florida’s Turnpike. The property’s location also provides access to a range of nearby retail and lifestyle destinations, among them Downtown Doral, CityPlace Doral and Dolphin Mall, which further enhance the appeal of the community to residents seeking a mix of employment access and amenities.
The refinancing underscores ongoing lender and institutional interest in newer, large-scale multifamily assets in established South Florida submarkets. With a sizable loan amount, floating-rate structure and interest-only terms, the Landmark South transaction highlights how well-amenitized, recently delivered apartment communities in strong demand corridors are attracting bridge financing solutions from capital providers such as Torchlight Investors.
