Walker & Dunlop Arranges $238M Refinancing for Landmark South Apartments in Doral
Walker & Dunlop has arranged a $238 million loan for the refinancing of The Landmark South, a 631-unit apartment community located at 6055 N.W. 105th Court in Doral, a western suburb of Miami.
Walker & Dunlop Refinancing Details
The $238 million financing is a floating-rate, interest-only bridge loan. The borrower is JSB Capital, and the lender is Torchlight Investors. Walker & Dunlop's Institutional Advisory team arranged the financing.
The loan works out to approximately $377,179 per unit, or roughly $371 per rentable square foot. The transaction is a refinancing rather than a sale.
Property Profile: The Landmark South in Doral
The Landmark South, also marketed as The Landmark South Apartments, is a Class A multifamily community at 6055 N.W. 105th Court, Doral, Florida 33178. The property comprises 631 residences in one-, two- and three-bedroom layouts, with an average unit size of approximately 1,017 square feet and about 641,527 rentable square feet in total. Public property listings describe the community as eight stories.
The community was developed in two phases, completed in 2017 and 2021.
Miami Multifamily Market Context
The refinancing comes as Miami-Dade County continues to absorb a large volume of new apartment supply. The county has added approximately 42,000 units since 2019, equal to roughly 21% of existing inventory.
As of March 2026, Miami-area multifamily vacancy stood at 6.6%, below the 7.3% national rate, while asking rents rose 0.7% year over year. A separate second-quarter market report placed overall Miami occupancy at 94.6%, with trailing-year absorption of 7,608 units against 7,847 completions.
Submarket performance varies. Doral's effective rent was approximately $2,812, down 1.7% year over year, while parts of Doral and other suburban Miami-Dade submarkets continued to report vacancy below 5%. South Florida multifamily cap rates were near 5.0% through the first quarter of 2026, with transaction activity gradually improving.
Implications for Bridge Financing
A floating-rate, interest-only bridge structure can give a borrower time to manage an asset ahead of a permanent refinancing, recapitalization or sale. The floating-rate structure also leaves the borrower exposed to future interest-rate movements. Continued rental demand in South Florida is being weighed against new supply.
Sources
More Financing
JLL Arranges $100M Bridge Loan from TPG AG Real Estate for Waypoint Residential's Two Florida Multifamily Properties
JLL Arranges $53M Refinancing for Arcadia Huntsville as Bobo Development Group, Revitate Back Alabama Luxury Apartment Community
