Bayside Marketplace was approved for a $250 million mortgage on Dec. 23, according to Miami-Dade records.  The loan, provided by Deutsche Bank, will be used for renovations and an expansion.

Bayside has 228,000 square feet of retail and 1,300 parking spaces. Its last mortgage was for $79 million in 2008. Chicago-based General Growth Properties owns the shopping center located at 401 Biscayne Boulevard.

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Jeff Berkowitz’s SkyRise Miami will be built next to Bayside and will sub-lease from General Growth.