Developer gets $40M financing for Mayfair in the Grove

Mayfair in the Grove
Mayfair in the Grove

West Palm Beach-based Whalou Properties just received $40 million in financing for its mixed-use development in Coconut Grove.

Mayfair in the Grove, with 279,550 square feet, has office, retail and residential space split between three buildings. Located along Grand Avenue, Florida Avenue and Mary Street, the complex houses tenants like Sony, HealthSun Health Plans, the Coconut Grove Arts Festival headquarters office, and the Miami Conservatory of Music, according to a release.

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Craig Romer and Joe Hepp of Dockerty Romer & Co. arranged the financing through Natixis Real Estate Capital, a commercial real estate lender based in New York.

“Natixis delivered both proceeds and structure which will continue to allow [Whalou] an ability to achieve their long term investment goals for this quality asset.” Hepp said in a statement. “It was truly a pleasure working with an extremely experienced and knowledgeable borrower, like Whalou.” — Sean Stewart-Muniz