Square Mile Capital Management refinance Brickell City Tower

Banyan Street Capital, Crocker Partners and Independencia Asset Management has secured a $60.8 million loan to refinance the Brickell City Tower. Brickell City is a 33 story, 288,314 sqf office tower located in the Brickell submarket of Miami at 80 SW 8th Street. The property, located a few blocks from Interstate 95, is being financed on a floating rate loan with a term of three years plus extension options in a deal sourced by CBRE South Florida Capital Markets Team from an affiliate of Square Mile Capital Management. At the time of the loan, the property was 82 percent leased.

“Brickell City Tower is in the midst of an extensive renovation plan that includes an elevator modernization, common area upgrades and an impressive expansion and renovation of the building’s lobby,” added CBRE Vice President Amy Julian. “Ownership’s commitment to making Brickell City Tower best-in-class, as well as a location near the Metrorail station and immediately adjacent to Mary Brickell Village and Brickell City Centre, will continue to attract new tenants to the building.”