South Florida’s commercial real estate sector has seen a strong start to the year, with three significant financing deals totaling approximately $308 million. These transactions include funding for two multifamily projects in Miami-Dade County and a refinancing for an office tower in Fort Lauderdale.
The recent activity suggests that lenders remain confident in the region’s real estate market. In the last two months of 2025, banks issued about $1.7 billion in construction and refinancing loans across five projects. Notable among these were a $465 million loan for Naftali Group’s JEM Private Residences at Miami Worldcenter and an $830 million refinancing for 830 Brickell, an office building developed by OKO Group and Cain International.
The largest deal among the latest financings involved Tokyo-based Nomura providing a $185 million refinancing for The Main Las Olas, a 25-story office tower located at 201 East Las Olas Boulevard. The loan was arranged by JLL, led by Paul Stasaitis and Geoff Goldstein, on behalf of developers Stiles and Shorenstein Investment Advisors.
According to the release, The Main Las Olas was completed in 2020 and is fully leased to tenants including JPMorgan Chase and Raymond James.
In another transaction, Pinnacle secured a $68 million package combining construction and equity financing for Caribbean Isles, an affordable senior housing project planned at 19755 Southwest 110th Court in southwest Miami-Dade. The complex will offer 142 units reserved for residents aged 62 or older who earn up to 60 percent of the area median income—$79,400 annually for individuals in Miami-Dade County.
Caribbean Isles marks the second phase of Pinnacle’s affordable housing initiative; its first phase, Caribbean Village with 123 units, was completed in 2020 along with a new parking garage. The financing includes a $34 million construction loan from Bank of America, a $27 million first mortgage from Chase Bank, and $10 million from county community development grants and surtax funds.
Additionally, Freddie Mac provided a $52.5 million refinancing loan secured by Horizons North—a garden-style apartment community with 276 units at 665 Ives Dairy Road—arranged by JLL representatives Mark Wintner and Joshua Odessky on behalf of Fifteen Group. Fifteen Group acquired Horizons North in 1999; since then they have completed major renovations to meet Miami-Dade County’s recertification requirements.
