Terra Secures $183.75 Million Refinancing for The Offices at THE WELL Bay Harbor Islands From Monroe Capital’s Real Estate Platform

David Martin, CEO of Terra

“Securing this refinancing following the building’s completion and strong leasing performance speaks to the strength of the project and the demand we’re seeing for a more wellness-focused workplace.”

David Martin, CEO of Terra

“We set out to create an office environment that rethinks the relationship between work and wellness, and the response from tenants has validated that vision.”

David Martin, CEO of Terra

“Monroe Capital has been a great partner throughout this process, and their experience financing high-quality real estate and deep understanding of the South Florida market made them an ideal lending partner to support the project’s long-term success.”

Kyle Asher, Partner and Co-Head of Monroe Capital’s Alternative Credit Solutions Group

“We are excited to close this financing for David Martin and the Terra team. They are one of the highest-quality sponsors in the market, and this is a Class A+ asset that is newly completed and already more than 90% leased,”

Kyle Asher, Partner and Co-Head of Monroe Capital’s Alternative Credit Solutions Group

“We continue to build out our middle-market real estate business nationally.”

Keith Kurland, Senior Managing Director of Capital Markets and Co-Head of Institutional Advisory at Walker & Dunlop

“The strong leasing momentum and differentiated wellness-focused concept at THE WELL Bay Harbor Islands created an opportunity to structure a refinancing that aligned with Terra’s long-term objectives.”

Keith Kurland, Senior Managing Director of Capital Markets and Co-Head of Institutional Advisory at Walker & Dunlop

“We were pleased to work alongside Terra and Monroe Capital to deliver a financing solution that reflects the strength of the asset and positions the development for continued success.”