Fifth and Lenox office building secures $23m in refinancing

An entity affiliated with Goddard Investment Group has refinanced Fifth and Lenox, a 43,500 sq ft office building in Miami Beach. The $23m funding was arranged by Holliday Fenoglio Fowler, which placed the floating-rate loan through Granite Point Mortgage Trust. The entire five-story building is triple net leased to WeWork through 2031. The property is located across from the South Beach Marina and in proximity to the MacArthur Causeway, which provides access into downtown Miami. The HFF debt placement team consisted of senior managing director Paul Stasaitis and director Maxx Carney.