{"id":380032,"date":"2026-08-24T21:08:19","date_gmt":"2026-08-24T21:08:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/380032\/"},"modified":"2026-08-24T21:08:19","modified_gmt":"2026-08-24T21:08:19","slug":"banyan-street-independencia-refi-south-florida-office-with-54m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/380032\/","title":{"rendered":"Banyan Street, Independencia Refi South Florida Office With $54M \u2013 Commercial Observer"},"content":{"rendered":"

Banyan Street Capital<\/a> and Independencia Asset Management<\/a> have nabbed $53.5 million to refinance an office complex in Doral, Fla.<\/p>\n

Wells Fargo<\/a> provided the financing that backs the 290,000-square-foot Doral Center property.\u00a0<\/p>\n

SEE ALSO: Truist Lends $277M on Jersey City Multifamily Tower Build<\/a><\/p>\n

The 10.8-acre campus includes two buildings \u2014 one rising six stories and the other seven \u2014 at 3750 Northwest 87th Avenue and 8750 Northwest 36th Street in the Miami suburb.\u00a0<\/p>\n

Doral Center, built between 1985 and 1990, is about 85 percent leased, according to CBRE, whose Amy Julian and Andrew Chilgren brokered the debt. Tenants include coworking operator Quest Workspaces, which leases about 38,000 square feet<\/a>.\u00a0<\/p>\n

The owners have spent $15.5 million updating the asset since buying it for $43 million in 2020 during the height of the pandemic. The 2020 sale price was about $4.3 million less than what the property had traded for four years earlier, according to property records.\u00a0<\/p>\n

\u201cThe extensive capital improvements have completely transformed Doral Center into a premier workplace environment,\u201d Julian said in a statement. \u201cThis strategic repositioning, combined with South Florida\u2019s robust economic fundamentals, has enhanced the property\u2019s competitiveness and triggered an immediate surge in leasing activity.\u201d<\/p>\n

This January, the joint venture sold about three acres for $6 million to residential developer ROVR Development.<\/p>\n

A representative for Banyan Street Capital and Independencia Asset Management did not immediately respond to a request for comment.\u00a0<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Banyan Street Capital and Independencia Asset Management have nabbed $53.5 million to refinance an office complex in Doral,…\n","protected":false},"author":2,"featured_media":380033,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[152536,152537,8001,152538,741,28,30,29,94487],"class_list":["post-380032","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-3750-northwest-87th-avenue","tag-8750-northwest-36th-street","tag-channel","tag-doral-center","tag-finance","tag-florida","tag-florida-headlines","tag-florida-news","tag-refinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/380032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=380032"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/380032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/380033"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=380032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=380032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=380032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}