$51.5M refinancing arranged for Miami Class A office complex

MIAMI, Apr. 22, 2025 – JLL Capital Markets announced today that it has arranged $51.5 million in leasehold financing for Dadeland Centre I and II, two Class A office buildings totaling 242,598 square feet in Dadeland, Florida.

JLL worked on behalf of the borrower, The Green Companies and Dadeland Centre, to secure the 10-year, fixed-rate loan through Goldman Sachs. The Green Companies team was led by James Bernstein, President and Elizabeth Green, Vice President.

Dadeland Centre I and II are located at 9155 and 9150 S. Dadeland Ave. in the southern part of Miami-Dade County. The property is convenient to downtown Dadeland, University of Miami and the premier residential neighborhoods of Pinecrest, South Miami, Coral Gables and Coconut Grove. Additionally, the property offers excellent mass transit accessibility to Downtown Miami and Brickell, via the adjacent South Dadeland Metrorail station.

The properties were developed by The Green Companies in two phases in 2003 and 2008 and are part of the Dadeland South Metro Rail Building Complex, which includes office towers, a Marriott hotel and the metro rail station. Dadeland Centre I is an 18-story tower, which includes a 406-space parking garage and 129,625 square feet of office space. Dadeland Centre II has 15 stories, including eight floors and 112,973 square feet of office space and six floors of parking totaling 250 spaces. Both Dadeland Centre I and II are subject to long-term ground leases with Miami-Dade County. Overall, the properties are 93% leased to a diverse tenant base, including Cole Scott & Kissane law firm, Steel Group, LLC, and Field & Howell.

“This transaction was complex due to several moving parts, including shifting capital markets, and the successful extension of a ground lease with Miami-Dade County,” said Bernstein. “This project is part of the first ground lease entered into by Miami-Dade County and The Green Companies, which was instrumental in the creation of the Metro Rail Transit System and the Dadeland South Station. The property remains a long-term, enduring asset for our portfolio and our family.”

JLL’s Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Paul Stasaitis.

“The successful outcome of this financing is attributed not only to our market leading the nation in office fundamentals, but also to an asset that benefits from direct access to mass transit, immediate access to executive housing and highly dedicated hands-on ownership,” added Stasaitis. “The lender kept focus on the assets strengths, while bringing the transaction to a successful close despite recent fluctuating market conditions.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 60 years, The Green Companies has built a legacy of excellence in real estate ownership, management, and development. As one of the most established family-owned firms, The Green Companies is committed to creating vibrant communities and delivering exceptional living and working environments. To learn more, please visit: thegreencompanies.net.