TIAA Real Estate has drawn out a new multimillion-dollar mortgage backed by one of Miami's tallest office buildings.
TIAA-CREF secured a $184M mortgage for 701 Brickell Ave, a 678k SF, 34-story tower anchored by Bank of America. According to filings with the SEC, TIAA's new mortgage has an interest rate of 3.66% and matures in 2026. Formerly called Lincoln Center, TIAA-CREF purchased it in 2002.
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