The Real Deal Miami

SoBe garage gets $76M refi

January 28, 2011 11:18AM

Developer Robert Wennett has closed on a $76 million refinancing of 1111
Lincoln Road, the parking garage that was designed by world-famous
architects Herzog & de Meuron. HSBC and PNC banks arranged the
five-year loan, which paid off the original construction loan on the
project. “This is a significant project in a great location, with a
strong owner and strong tenants,” said Adam Lustig, the Bilzin Sumberg
partner who represented Wennett. The building houses retail tenants like
Shake Shack and Taschen Books, along with a 100,000-square-foot office
building and a personal penthouse apartment for Wennett.