It’s all about leverage for partners RedSky Capital and JZ Capital Partners.
The two investment firms just borrowed an additional $34 million against their assemblage in Miami’s Design District, boosting their total loan principal to a whopping $220 million.
County records show the companies took out their new financing for 11 parcels at the corner of North Miami Avenue and Northeast 39th Street, mostly consisting of mid-century retail buildings no larger than 11,000 square feet a piece — save for the much larger 1980s-era building at 3995 North Miami Avenue.
The loan was provided by an affiliate of Apollo Commercial Real Estate Finance, a New York real estate investment trust that originates and trades in commercial debt.
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