Ballard Spahr Advises Greystone on Financing Transaction for Florida's Tallest Building

Ballard Spahr Housing Finance attorneys represented Greystone Servicing Company LLC, together with Greystone Commercial Capital (GCC), a division of Greystone that focuses on structured commercial mortgages for institutional clients, in closing a $419.6 million refinancing of Panorama Tower, an 85-story, Class A+, mixed-use, residential complex in the Brickell neighborhood of Miami.

Located on Brickell Bay Drive, Panorama Tower is the tallest building in Florida. It features 821 multifamily residences, 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage, and an attached 19-story, 208-room Hyatt Centric Hotel. The financing transaction, which closed at the end of January 2024, included a structured Freddie Mac loan and an investment led by a global pension fund.

The Ballard Spahr team that advised Greystone Servicing Company and GCC on the transaction was led by Juan Pereira, a partner in the firm’s Housing Finance Group.

GCC’s focus on structured commercial mortgages for institutional clients spans all major property types. For additional information on the company and transaction, please see Greystone’s press release.

Image courtesy of Greystone

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