Terra refinances Bay Harbor Islands offices with $183.75 million Monroe Capital loan
The 96,000-square-foot Class A office building is more than 90% leased and was delivered over the summer, according to Connect CRE.
At a glance
The 96,000-square-foot Class A office building is more than 90% leased and was delivered over the summer, according to Connect CRE.
Terra has refinanced The Offices at THE WELL Bay Harbor Islands with a $183.75 million loan from Monroe Capital, according to a Connect CRE report published Oct.
The offices are more than 90% leased to tenants including Man Capital LLP, Dwight Capital, TEB Capital Management, NewCo Capital Group and Legacy Wealth Advisors.
Terra has refinanced The Offices at THE WELL Bay Harbor Islands with a $183.75 million loan from Monroe Capital, according to a Connect CRE report published Oct. 14. Walker & Dunlop Capital Markets Institutional Advisory represented Terra.
The offices are more than 90% leased to tenants including Man Capital LLP, Dwight Capital, TEB Capital Management, NewCo Capital Group and Legacy Wealth Advisors. The loan is against the 96,000-square-foot Class A office portion of Terra's mixed-use development, which also includes an eight-story residential building with 65 residences and more than 22,000 square feet of amenities. The project was delivered over the summer, and the ground floor is slated for The Golden Good Market and THE WELL Club, both targeted for 2027.
Terra is separately working on a $507 million construction loan for a condo tower, as this publication reported this month. Connect CRE does not disclose the loan's rate, term or leverage.
Terra has refinanced The Offices at THE WELL Bay Harbor Islands with a $183.75 million loan from Monroe Capital, according to a Connect CRE report published Oct. 14.
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