JSB Capital Group has secured a $238 million refinancing from Torchlight Investors for The Landmark South, a 631-unit apartment community in Doral, Florida. Walker & Dunlop arranged the floating-rate, interest-only bridge loan. The Class A property is near Miami and was developed in two phases, completed in 2017 and 2021.
Key takeaways
The refinancing follows a 2023 recapitalization and provides new financing for a community JSB acquired in 2021.
- Loan: $238 million from Torchlight Investors
- Property: The Landmark South, with 631 units in Doral
- Arrangement: Walker & Dunlop represented the borrower
- Loan structure: Floating-rate and interest-only
A new financing chapter for The Landmark South
JSB acquired The Landmark South in 2021 for $255 million from Canyon Partners, according to Yardi Matrix. In 2023, the owner secured a $154.1 million Freddie Mac loan through a recapitalization arranged by JLL, alongside a $65.8 million preferred equity investment from Pensam. The Freddie Mac loan had been scheduled to mature in June 2028, Yardi Matrix reported.
The new $238 million bridge loan marks a subsequent refinancing for the property. Walker & Dunlop’s Aaron Appel, Michael Stepniewski, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Sean Bastian and Stanley Cayre arranged the transaction for JSB.
Property features and location
The community offers one-, two- and three-bedroom apartments with in-unit laundry, walk-in closets and granite countertops. Its first phase delivered 418 units in 2017; the remaining 213 units were completed in 2021. AECOM-Canyon Partners developed the second phase, with Moss & Associates as general contractor.
Shared amenities include a swimming pool, fitness center, clubhouse and playground. Bryten Real Estate Partners manages the property. Yardi Matrix reported occupancy of 93 percent in August. Located at 6055 NW 105th Court, the complex is about 11 miles from Miami International Airport, with retailers including ALDI, Ace Hardware and Publix within walking distance.
Walker & Dunlop’s multifamily activity
The Landmark South deal adds to Walker & Dunlop’s recent financing work. The firm reported sourcing about $9.6 billion in multifamily financing from non-agency capital providers during the first half of 2026. Other recent transactions cited by the company include a $180 million refinancing for the Terrazul student housing community in Sweetwater, Florida, and a $555.6 million refinancing of a 14-property student housing portfolio.