$185M Financing Arranged For Trophy Office Tower In Fort Lauderdale

JLL Capital Markets arranged $185 million in financing for The Main, a 25-story, trophy office tower totaling 387,401 square feet in downtown Fort Lauderdale.

Working on behalf of the borrower, a joint venture between Stiles and Shorenstein Investment Advisors, JLL placed the floating-rate senior loan with Nomura.

Delivered in 2020, The Main is LEED Gold-certified and offers high-quality construction with 12-foot floor-to-ceiling glass, first generation tenant buildouts and 14-foot slab-to-slab floors. The trophy property offers a market-leading amenity package, including secured VIP parking, a large conference center, a fitness center with locker rooms, an apartment-style amenity deck and covered terrace, tenant lounges and on-site restaurants including Moxie’s and Fogo de Chao. The Main was fully leased within two years of delivery and remains 100% occupied today with a high-quality tenant roster of national financial institutions, leading law firms and corporate headquarters, including JPMorgan Chase and Raymond James.

Located at 201 E Las Olas Blvd., The Main sits in the heart of downtown Fort Lauderdale and offers a true live-work-play location with walkability to the city’s most exclusive dining, high-street retail and luxury residential towers. Fort Lauderdale has evolved into a dynamic commercial hub attracting corporate relocations and wealth migration. The city boasts a population increase of more than 27,000 residents, an increase of 38% from 2020.

JLL’s Debt Advisory Capital Markets team representing the borrower was led by Paul Stasaitis, Geoff Goldstein and Blake Koletic.

“The emergence of discerning lenders like Nomura readily available to provide capital solutions for office-owner clients represents a welcome evolution within the office sector,” said Stasaitis. “In this instance, The Main stands as the premier office asset in Fort Lauderdale, supported by equally exceptional, top-tier sponsorship. Consequently, the financing terms procured were commensurate with the exceptional caliber of both the property and its esteemed sponsors.”