Parking: Update – A Miami Beach Event Space. Parking Space, Too

HSBC and PNC Provide $76M Loan

Developer Robert Wennett secures one of the largest traditional commercial real estate loans made in South Florida since the economic meltdown, with a $76M refinance from co-arrangers HSBC Bank USA and PNC Bank. The loan pays off the original construction loan and is significant in the fact that is a non-CMBS bank loan. The unique project, 1111 Lincoln Road, is a mixed-use parking garage with ground-floor retail designed by architect Herzog & Meuron. The ultra-luxe garage, which is also used for special events and weddings, includes 40,000 s.f. of restaurant and retail space, a 100,000 s.f. office building and a penthouse apartment for Wennet, principal of Mbeach1.

A Miami Beach Event Space. Parking Space, Too

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