Moishe Mana Secures $150 Million Refinancing for Wynwood Property Portfolio

Moishe Mana, a prominent developer known for his extensive holdings in Miami, recently finalized a substantial $150 million refinancing deal for his diverse property portfolio in Wynwood, a vibrant arts district in the city. This significant loan, sourced from WFL Lender, a Delaware-based entity, encompasses 56 properties situated around the Mana Wynwood Convention Center at 318 Northwest 23rd Street, though it does not include the venue itself.

Key Highlights of the Refinancing Deal

Loan Amount: $150 million
Lender: WFL Lender (Delaware-registered)
Coverage: 56 properties in Wynwood, excluding the Mana Wynwood Convention Center
Notable Properties Covered:
- 435 Northwest 22nd Lane
- 2320 Northwest Fifth Avenue
- 550 Northwest 24th Street
- 2308 and 2324 Northwest Fifth Avenue

A Look Back: Previous Financing

This refinancing follows a $275 million line of credit obtained by Mana in 2022 from Centennial Bank, from which he drew $58.2 million. Notably, records indicate that Mana paid off the remaining balance to Centennial on the same day he secured the new loan from WFL.

Vision for Wynwood: Creating a Unique Ecosystem

Moishe Mana’s aspirations for Wynwood are ambitious and community-focused. Since receiving city approval for a 30-acre development project in 2016, he has been dedicated to revamping older warehouses into functional spaces, including event venues, retail shops, and galleries. His approach contrasts sharply with merely constructing new buildings for fast leasing; instead, he seeks to foster an “ecosystem” that promotes connectivity among tenants and ties the local community with the global arts scene.

A Shift in Architectural Plans

Original Vision: A massive 9.7 million square feet of buildings, including towers up to 24 stories.
Revised Plans: Emphasizes designs more in tune with Wynwood’s distinctive character. Recent renderings feature:
- Unique Shapes: Octagonal, pentagonal, and triangular structures.
- Art-Centric Aesthetic: Reflecting Wynwood’s identity as an arts district.

Joe Clark, an architect associated with Mana’s firm, Mana Common, notes that project plans are continually developing, with a current focus on revitalizing areas east of Northwest Fifth Avenue.

Broader Holdings in Downtown Miami

Moishe Mana is also the largest property owner in downtown Miami, where he prioritizes the preservation and renovation of existing structures. Notable renovations include:

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The Nikola Tesla Innovation Hub: Located in a 13-story building at 155 South Miami Avenue.
777 International Mall: Currently undergoing transformation.
19 West Flagler Street: Scheduled for completion early next year, featuring open fashion showrooms.

Looking further ahead, Mana envisions 4.2 million square feet of new developments in downtown, incorporating residential units and hotel accommodations.

Conclusion: The Future of Miami’s Wynwood and Downtown Areas

Moishe Mana’s endeavors in Wynwood and downtown Miami signal a transformative wave in the urban landscape. As he navigates challenges such as federal tariffs and construction policies, his focus remains on enhancing community connectivity and redeveloping Miami’s unique architectural fabric.

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Moishe Mana Secures $150M Refinancing for Wynwood Properties