$17,677,000 Refinance Secured for Retail Property in Miami, FL
Jun 1, 2026 Bank
Deal Summary
Bank of Montreal provided a $17.7 million loan secured by a retail property at 120 NE 39th Street in the Miami Design District, according to public records. The borrower is Thor 118 NE 39th LLC, with Morris Missry signing as vice president.
At more than $4,200 per square foot of debt against the 1938 vintage building, the loan reflects Design District land and rent economics rather than conventional retail metrics. The district's 39th Street corridor sits at the center of the luxury retail concentration anchored by the neighborhood's flagship maisons.
The Design District has joined the short list of American retail streets, alongside Rodeo Drive and upper Madison Avenue, where debt per square foot routinely exceeds what entire buildings trade for in ordinary markets.
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Market Notes
Ultra prime retail financing is a global lender market, and the banks most aggressive on it are often not the ones a local process would surface. Owners of trophy retail in Miami's luxury corridors should run financings that include the international banks building U.S. CRE books, where a marquee asset in a marquee district is exactly what the mandate calls for.
Transaction Details
- Closing Date
- Jun 1, 2026
- Loan Amount
- $17,677,000
- Loan Type
- Bank
- Loan Purpose
- Refinance
- Capital Type
- Senior Debt
- Asset Type
- Retail
- Source
- Public records
Property
- Property Name
- Miami Design District Retail
- Address
- 120 NE 39th St
- 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.