MIAMI–(BUSINESS WIRE)–$HF #CoralGables–Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
arranged $100 million in construction financing for the development of
the first of two phases of The Plaza Coral Gables, a mixed-use project
located in the heart of the Coral Gables business district.
HFF worked on behalf of the borrower, Agave Holdings, LLC, to secure the
construction facility.
The Plaza Coral Gables represents the first large scale mixed-use
development within the City of Coral Gables and includes the design and
development of Ponce Park, which will serve as an extension of the
project’s dramatic open plaza area. Designed by CallisonRTKL, phase one
of the project includes a 14-story, Class A, state-of-the art office
building totaling 291,129 square feet; 135 multi-housing units, 34
ground level/loft apartment units; and 101,439 square feet of retail
space primarily fronting Ponce del Leon and the dramatic plaza, and
consisting of an experiential theme with restaurants, entertainment and
service tenants. The second phase, not part of the financing, will
provide an additional 222,541 square feet of net rentable area,
including office, residential townhomes and retail, as well as a 242-key
hotel. The project broke ground in December 2017 and has an estimated
completion date of June 2020.
The HFF capital markets team representing the borrower included
executive managing director Manny de Zárraga, managing director Jim
Dockerty and director Matthew McCormack.
“The Plaza Coral Gables is not only a milestone project for Coral
Gable’s history but in South Florida history,” de Zárraga said. “This
project is the culmination of years of hard work by the Agave team, who
are focused and dedicated to providing the best tenant and customer
experience for years to come.”
About Agave Holdings, LLC
Agave Holdings, LLC is a privately-owned, commercial real estate firm
specializing in the acquisition and development of generational
commercial properties throughout the United States and Mexico. With
offices in Miami and Mexico City, the firm, which represents the
interests of Grupo JB (family of Juan Beckmann of José Cuervo),
currently owns and manages more than four million square feet of
institutional Class A office space across the United States and Mexico.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.
Contacts
MANNY DE ZÁRRAGA
HFF Executive Managing Director
(305)
448-1333
[email protected]
JIM
DOCKERTY
HFF Managing Director
(305) 448-1333
[email protected]
MATTHEW
MCCORMACK
HFF Director
(305) 421-6558
[email protected]
KRISTEN
MURPHY
HFF Director, Public Relations
(617) 848-1572
[email protected]
