Greystone closes $419m financing package for class-A+, mixed-use multifamily complex in Miami

Greystone Commercial Capital (GCC) has closed a $419.59 million transaction to refinance Panorama Tower, located on Brickell Bay Drive in Miami. The property is an 85-story, class-A+, mixed-use, residential complex featuring 821 multifamily residences, 112,731 square feet of class-A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. The deal included a structured agency loan in tandem with an investment led by a global pension fund.

GCC is a division of Greystone that focuses on structured commercial mortgages for institutional clients across all major property types. This transaction consisted of a $334.59 million Freddie Mac Optigo® senior loan funded by Greystone Servicing Company that carries a five-year term and 35-year amortization combined with $85 million of agency-compliant subordinate debt.