MIAMI--(BUSINESS WIRE)--CGI Merchant Group, LLC (“CGI”), headquartered in Miami, is a leading private and alternative investment management firm, with a focus on commercial real estate and infrastructure opportunities, successfully executed the refinancing of assets located in Coral Gables, Florida and its 400-office portfolio, composed of corporate and executive suites, in Palm Beach and Martin Counties, Florida.
CGI has continued to reinforce its commitment to the South Florida real estate market by successfully refinancing two of its major properties: the ‘55 Miracle Mile’ and ‘The Nexus’ property portfolio. The total refinancing amounted to $40.75 million for both properties. The new term loans were originated by Starwood Mortgage Capital, LLC, one of the Nation’s leading commercial real estate lenders.
“We are very pleased to have successfully executed this refinancing, which reflects the confidence in CGI’s portfolio properties and the vibrancy of the South Florida market,” said Raoul Thomas, Founder and CEO of CGI. “The refinancing is part of our long-term strategy to offer value to our partners and to ensure CGI remains positioned for continued growth,” added Mr. Thomas.
The refinancing comes at a key point in time where interest rates remain favorable, and income growth was achieved through stabilization efforts several years post-acquisition. CGI acquired the ’55 Miracle Mile’ and ‘The Nexus’ properties in 2013. The fact that Starwood Mortgage Capital provided refinancing and teamed with CGI to successfully execute the transaction is a testament to the confidence in the South Florida market and the productive collaboration of both firms.
About CGI Merchant Group, LLC
CGI Merchant Group (CGI) is a private-equity, alternative investment management firm that capitalizes on commercial real estate and infrastructure opportunities by using an entrepreneurial approach to build stakeholder value. CGI raises funds from international investors such as pension funds, individuals, and family offices. Within the past six months, the firm has deployed more than $150 million of capital in multiple assets classes including retail, office, and leisure. CGI is based in Miami, FL and its team is comprised of contrarian, value-oriented investors in real estate and infrastructure focused on risk management.