$16,650,000 Refinance Secured for Mixed-Use Property in Miami, FL
May 29, 2026 Private Money
Deal Summary
Maxim Credit Group provided $16.65 million secured by a seven parcel assemblage along NW 29th and NW 30th Streets in Wynwood, according to public records. The borrower is Wynwood 29th St LLC, with Lowell Plotkin signing as manager.
The assemblage, acquired in 2023 for approximately $17.2 million, combines small existing buildings and vacant land in the heart of the district's development corridor, two blocks from the Wynwood Walls.
Wynwood's transition from arts district to full mixed use neighborhood has kept land carrying costs high and hold periods long, making structured private debt the standard bridge between assemblage and vertical development.
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Market Notes
Land carry is the silent killer of assemblage economics, and refinancing an assemblage near its acquisition basis, as here, is often about resetting the clock: cheaper carry, extended runway, and capital freed for entitlement work. Sponsors holding land through the entitlement cycle should revisit their carry structure annually rather than treating the acquisition loan as fixed furniture.
Transaction Details
- Closing Date
- May 29, 2026
- Loan Amount
- $16,650,000
- Loan Type
- Private Money
- Loan Purpose
- Refinance
- Capital Type
- Senior Debt
- Asset Type
- Mixed-Use
- Source
- Public records
Property
- Property Name
- Wynwood Seven-Parcel Assemblage
- Address
- NW 29th St & NW 30th St (7 parcels)
- City, State
- Miami, FL
- Market
- Miami / South Florida
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Transaction details are compiled from public announcements, press releases, industry reporting, or information submitted by parties to the transaction, and have not been independently verified by LoanList CRE. Terms shown may be approximate. Nothing on this page constitutes a quote, offer, or guarantee of financing terms. Full disclaimer.