CIM Group Closes $154 Million Whole Loan Refinance for MiamiCentral Office Towers
LOS ANGELES — CIM Group announced April 13 that its CIM Real Estate Debt Solutions business closed a $154 million whole loan to refinance 2 and 3 MiamiCentral, two Class A office towers totaling approximately 339,000 square feet in Downtown Miami. The financing was arranged by Eastdil Secured on behalf of a CIM-managed fund.
Property Overview: MiamiCentral Office Towers
Completed in 2018, the two towers are situated within the larger MiamiCentral mixed-use development in Downtown Miami. The 17-story 2 MiamiCentral, located at 700 NW MiamiCentral Avenue, comprises approximately 196,000 rentable square feet of office space and 5,000 square feet of amenities. The 12-story 3 MiamiCentral, at 161 NW 6th Street, includes approximately 105,000 rentable square feet of office space, 33,000 square feet of retail space, and 1,357 parking spaces.
Both towers feature efficient floorplans and floor-to-ceiling windows. Tenant amenities across the properties include wellness and fitness facilities, an outdoor roof deck, private work lounges, conferencing space, concierge services, valet parking, and secure garage access.
Transit-Oriented Location in Downtown Miami
The properties are adjacent to MiamiCentral Station, a regional transit hub providing access to Brightline, Tri-Rail, Metrorail, Metromover, and Metrobus services. The development also offers connectivity to I-95 and I-395, and sits in proximity to the Brickell Financial District, Miami Beach, Midtown, Wynwood, and the Design District.
The broader MiamiCentral mixed-use development includes a full-service Publix supermarket, Starbucks, Chick-fil-A, an approximately 18,000-square-foot food hall, and more than 800 luxury residential units.
Commercial Real Estate Financing Details
The $154 million whole loan equates to roughly $454 per square foot based on the combined 339,000 square feet across both towers. The financing was arranged by Eastdil Secured. Specific loan terms, including interest rate, loan term, and loan-to-value ratio, were not disclosed.
CIM Group stated the transaction reflects its continued focus on providing customized financing solutions for high-quality office assets in major U.S. markets. Through its CIM Real Estate Debt Solutions business, the firm applies its experience as an owner, operator, and developer of commercial real estate to its lending strategy, offering mortgage and mezzanine loans, as well as bridge and construction financing to owners and developers across major U.S. markets.
About CIM Group
Founded in 1994, CIM Group is a real estate and infrastructure owner, operator, lender, and developer. The firm has delivered more than $60 billion in real estate and infrastructure projects across the Americas. Its lending arm targets customized financing solutions for commercial real estate assets, with hands-on management from due diligence through disposition.