Blue Owl Lends $335 Million to Amazon-Anchored Wynwood Plaza
Funds managed by Blue Owl Capital Inc. provided a $335 million refinancing for Miami’s Wynwood Plaza.
Proceeds from the floating-rate loan will be used to retire the project’s original construction financing and fund the office and residential leasing costs, according to a statement Wednesday.
Wynwood Plaza, at 95 NW 29th St., was completed in October. Developed by L&L Holding Co. and Oak Row Equities, the 1 million-square-foot (92,900-square-meter) campus includes 509 apartments, along with offices and retail space. Bolivian billionaire Marcelo Claure’s investment firm is a co-investor in the project.
The loan “marks a defining moment for Wynwood Plaza and underscores our conviction in the enduring demand for high-caliber, transit-oriented development in Miami,” Erik Rutter and David Weitz, managing partners at Oak Row, said in the statement.