Blackstone has locked in a $154 million refinancing for its 2 and 3 MiamiCentral office complex in Downtown Miami, where the investment giant is also a tenant. The pair of towers sit directly over Brightline’s MiamiCentral station and serve as the office backbone of the Miami Worldcenter district, a fresh reminder that well‑located, transit‑linked office buildings can still get financed even as commercial debt reprices across the country.
Deal details
A private credit fund managed by CIM Group supplied the $154 million loan on the roughly 339,000 square feet of space across the two buildings, while Eastdil Secured arranged the deal, according to Commercial Observer. The outlet also reported that Blackstone representatives did not immediately answer requests for comment.
Blackstone’s 2021 buy
Blackstone bought 2 and 3 MiamiCentral for about $230 million in 2021, after first signing a sizable office lease in the project, as reported by Bisnow. That deal cemented the firm’s downtown presence and helped fuel later leasing momentum in the complex.
Property mix and size
2 MiamiCentral rises 17 stories and offers roughly 196,000 rentable square feet of office space, plus about 5,000 square feet of tenant amenity areas. Next door, 3 MiamiCentral includes about 105,000 rentable square feet of offices, 33,000 square feet of retail and 1,357 parking spaces. Both buildings were delivered in 2018, per Commercial Observer.
A quick capital recycle
The refinance comes on the heels of a separate capital move by CIM Group in the same neighborhood. Earlier this April, the firm and its partners sold the retail portion of nearby Miami Worldcenter for about $210 million, according to a Newmark release distributed via PR Newswire. That deal trimmed ownership in the area’s retail hub even as CIM’s private credit arm turned around and put fresh debt into the MiamiCentral office towers.
Why private credit matters
Institutional debt funds and other alternative lenders have been stepping in as banks turn more cautious. CBRE’s fourth quarter 2025 research found that alternative lenders accounted for roughly 40 percent of non‑agency loan closings, a shift that helps explain why a CIM private credit vehicle is comfortable refinancing an office property right now, per CBRE.
Local leasing has not hurt the story either. Tenants such as Uber doubled their office footprint at 3 MiamiCentral last year, strengthening the asset’s leasing profile, according to Bisnow.
For Downtown Miami, the financing signals that class A, transit‑connected towers can still draw institutional capital even as broader office metrics reset. For Blackstone, the new loan should give the owner room to keep pushing leasing and hold the property while the market adjusts to higher borrowing costs.
