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South Florida

Bayside Marketplace mortgage increased to $250M

Bayside Marketplace
Bayside Marketplace

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.

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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.

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

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Bayside MarketplaceGeneral Growth Properties