OKO and Cain International's Miami Tower Lands Some Serious Bucks

OKO and Cain International's Miami Tower Lands Some Serious Bucks This week, we’re seeing the pace of CRE financings pick up across the nation, with Oko Group and Cain International securing a whopping $565 million from Tyko Capital to refinance 830 Brickell, the first stand-alone office tower to rise in Miami in more than 10 years. The 57-story, 640,000-square-foot development is scheduled to be completed this fall. We also saw mega loans from Walker & Dunlop Investment Partners ($285 million for Temple University student housing), Bank OZK and Affinius Capital ($120 million for a San Jose industrial park), and KeyBank ($98 million on a trio of multifamily complexes in Wisconsin). The week also included news that Dwight Capital has launched a C-PACE lending platform, while New York nonprofit Community Solutions has raised $135 million toward acquiring existing multifamily buildings to house homeless, veterans and workforce housing tenants. Finally, prepare to cheer as the Olympics are almost upon us, and Paris now finds the summer of 2024 dominated not just by sports and spectacle, but also the need to minimize the impact on its local environment as it houses, feeds, and transports thousands of athletes and millions of spectators during the games. Sources: Tyko Capital Lends $565M for 830 Brickell Office Tower in Miami Oko Group and Cain International scored $565 million from Tyko Capital to refinance 830 Brickell, Miami’s first new stand-alone office tower in over a decade. [Read More]( Top Deals Of The Week   - Walker & Dunlop [Provides]( $286M Refi for Temple University Student Housing - Bank OZK, and Affinius Capital Provide[$120M]( Construction Loan for San Jose Industrial Park - Bank United Provides $70M Refi for [CUNY](Journalism School HQ - KeyBank Lends $98M on [Wisconsin]( Multifamily Complexes - 3650 REIT Supplies $51M Refi on Midtown [Residential]( Properties - [LoanCore Capital]( Lends $85M Refi for Queens Air Cargo Industrial Guest Columnist   How to Get the Globe to Fund Your Development Projects An economic stimulus initiative that was revised by the federal government in 2022 is coupling immigration with the importation of financial capital, writes G. Lamont Blackstone [Read More]( Q&A   5 Questions on STRs With Ricardo Dunin of Miami-Based North Development Ricardo Dunin is no stranger to developing short-term rentals. A quarter-century later, short-term rentals need little explanation. [Read More](   Other Stories From This Week   Dwight Capital Launches C-PACE Lending Platform The Sunny Isles Beach, Fla.-based lender has formed Dwight Green Finance, a C-PACE loan offering that will be led by Lisa Nordel, who joined the firm last month from Peachtree Group. [Read More]( Community Solutions Raises $135M to Acquire Affordable Housing Across U.S. A nonprofit with humble beginnings in New York City has raised $135 million from private donors to support a fund that purchases multifamily buildings and uses them to house the homeless, veterans and those in need of workforce housing [Read More]( Paris Olympics Leans Into Sustainability in Construction and Operations The City of Light bears yet another set of responsibilities for the 2024 Olympic and Paralympic Games: to house, feed, and transport thousands of athletes and millions of spectators with as little long-term environment and social impact as possible. [Read More]( Downtown L.A.’s Oceanwide Plaza Project Could Get a Second Shot at Life As bankruptcy court proceedings inexorably move toward a September sale, the Oceanwide Plaza construction site may become a real estate folly, or a legendary turnaround job ready to soak up the spotlight during the 2028 Olympics. [Read More]( What We're Reading This Week   - The D.C. office market Is in [Trouble](—no matter who wins the election [WSJ] - Real Estate [Crisis](? Small banks say their loans are fine. [NYT] - Why an indicator that has foretold almost every[recession]( doesn’t seem to be working anymore [CNBC]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2024 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 07/25/2024