Wynwood Haus Secures Significant Refinancing
Miami’s vibrant Wynwood neighborhood welcomes a substantial financial boost as Wynwood Haus, a prominent 224-unit multifamily apartment tower, has successfully secured $56 million in refinancing. The deal, arranged by Berkadia, injects new capital into this modern residential and retail complex, underscoring the continued strength of Miami’s real estate market.
Key Takeaways
- Wynwood Haus, a 224-unit multifamily community, has finalized a $56 million refinancing.
- The loan was provided by Fannie Mae, featuring a seven-year, fixed-rate term with full-term interest-only payments.
- The property boasts a high occupancy rate of 94% and was completed in 2024.
- The refinancing was orchestrated by a team from Berkadia, representing the joint venture sponsors.
A Closer Look at Wynwood Haus
Completed in 2024, Wynwood Haus stands as a 20-story building strategically located at the gateway to the Wynwood arts district. The development offers a diverse range of studio, one, and two-bedroom apartments, complemented by 6,824 square feet of ground-floor retail space. A notable feature of the community is its commitment to workforce housing, with 100 units designated for families earning between 100% and 140% of the area median income.
Residents enjoy modern living with amenities such as floor-to-ceiling windows, spacious balconies, in-unit laundry, smart thermostats, 10-foot ceilings, and keyless entry. The building also provides a wealth of community features, including a pool with bay views, a state-of-the-art fitness center, a co-working space, a resident lounge, and convenient services like a pet grooming station and electric car charging.
Strategic Location and Transit-Oriented Development
Wynwood Haus is ideally positioned as a transit-oriented development (TOD). Its proximity to the School Board Metromover station offers residents seamless access to key Miami destinations, including downtown Miami, Brickell, and Miami Beach, with further connectivity through the Metrorail and Brightline regional commuter train.
The Refinancing Deal
The $56 million loan was arranged by a dedicated team from Berkadia, including Managing Directors Brad Williamson and Scott Wadler, Senior Managing Directors Chris Ellis and Mitch Sinberg, and Managing Director Matt Robbins, along with Vice President Abigail Beauchamp and Director Jared Hill. They represented the joint venture partners: Miami-based LD&D (in partnership with IGEQ), national real estate firm Black Salmon, and Salt Lake City-based Bridge Investment Group. The deal, which closed on July 21, was facilitated by Fannie Mae, providing a seven-year, fixed-rate loan with full-term interest-only payments, reflecting strong confidence in the property’s performance.