MIAMI, FL - Berkadia announced today it has secured a loan to finance the residential portion of Strata Wynwood, a mixed-use property built in 2022 in the renowned Wynwood Arts District in Miami, Florida. Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler and Matt Robbins, Vice President of Originations Abigail Beauchamp, and Director of Operations Jared Hill of Berkadia Boca Raton and Miami secured $59 million in financing through Fannie Mae on behalf of the sponsor Rockpoint, a Boston-based real estate private equity firm.
“Strata Wynwood has set the standard for urban living and working environments in Wynwood,” said Sinberg. “Rockpoint utilized a rate lock feature to take advantage of a steep drop in treasuries, which made for an exceptional investment.”
Located at 21 NE 22nd Street, Strata Wynwood spans a full city block along N. Miami Avenue in the heart of Wynwood with 257 residential units situated across two eight-story apartment towers above three floors of office space and street-level retail. It offers studios, one-, two-, and three-bedrooms apartments featuring stainless steel appliances, walk-in closets, oversized and soundproof windows, smart home technology and thermostat, in-unit Wi-Fi-enabled washer and dryer, private balconies, terraces, and more. Amenities include a 24-hour fitness center, pilates room, swimming pool with cabanas, lounge areas, grilling stations, theater room and lounge, and coworking spaces. In addition to the residential units, the property features 61,503 square feet of Class A creative office space, 27,040 square feet of ground-floor retail, and 474 parking spaces.
The property affords convenient access to Interstate 195 and 395, all of Wynwood’s notable restaurants, retailers, entertainment, and attractions, as well as Downtown/Brickell, Miami Beach, and Miami International Airport.
About Berkadia®: Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.