HFF Arranges $100M Construction Loan for Development of The Plaza Coral Gables in Coral Gables, Florida
04 Giugno 2019 - 10:31PM
Business Wire
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
arranged $100 million in construction financing for the development
of the first of two phases of The Plaza Coral Gables, a mixed-use
project located in the heart of the Coral Gables business
district.
HFF worked on behalf of the borrower, Agave Holdings, LLC, to
secure the construction facility.
The Plaza Coral Gables represents the first large scale
mixed-use development within the City of Coral Gables and includes
the design and development of Ponce Park, which will serve as an
extension of the project’s dramatic open plaza area. Designed by
CallisonRTKL, phase one of the project includes a 14-story, Class
A, state-of-the art office building totaling 291,129 square feet;
135 multi-housing units, 34 ground level/loft apartment units; and
101,439 square feet of retail space primarily fronting Ponce del
Leon and the dramatic plaza, and consisting of an experiential
theme with restaurants, entertainment and service tenants. The
second phase, not part of the financing, will provide an additional
222,541 square feet of net rentable area, including office,
residential townhomes and retail, as well as a 242-key hotel. The
project broke ground in December 2017 and has an estimated
completion date of June 2020.
The HFF capital markets team representing the borrower included
executive managing director Manny de Zárraga, managing director Jim
Dockerty and director Matthew McCormack.
“The Plaza Coral Gables is not only a milestone project for
Coral Gable’s history but in South Florida history,” de Zárraga
said. “This project is the culmination of years of hard work by the
Agave team, who are focused and dedicated to providing the best
tenant and customer experience for years to come.”
About Agave Holdings,
LLC
Agave Holdings, LLC is a privately-owned, commercial real estate
firm specializing in the acquisition and development of
generational commercial properties throughout the United States and
Mexico. With offices in Miami and Mexico City, the firm, which
represents the interests of Grupo JB (family of Juan Beckmann of
José Cuervo), currently owns and manages more than four million
square feet of institutional Class A office space across the United
States and Mexico.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20190604006072/en/
MANNY DE ZÁRRAGAHFF Executive Managing Director(305)
448-1333mdezarraga@hfflp.comJIM DOCKERTYHFF Managing
Director(305) 448-1333jdockerty@hfflp.comMATTHEW
MCCORMACKHFF Director(305)
421-6558mmccormack@hfflp.comKRISTEN MURPHYHFF Director,
Public Relations(617) 848-1572krmurphy@hfflp.com
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