The Real Deal Miami

LNR completes credit refinancing

May 02, 2011 11:25PM

Miami Beach-based LNR Property has successfully refinanced its senior credit facilities, the company announced yesterday. The new credit facilities are comprised of a $325 million, five-year loan, along with a $40 million three-year revolving credit facility, both of which were rated BB+ by Standard & Poor’s. “LNR is the largest special servicer for securitized commercial real estate loans in the U.S.,” said Toby Cobb, Co-CEO of LNR Property. “This refinancing of our credit facilities marks the end of a highly successful recapitalization and repositioning of [the company].” TRD