CBRE Capital Markets Secures $113.6 Million in Financing for Mayfair in the Grove

CBRE Capital Markets’ Debt & Structured Finance team has arranged $113.6 million in financing for Mayfair in the Grove, a recently renovated landmark 288,046-square-foot mixed-use asset located in Coconut Grove, one of Miami’s most coveted neighborhoods.

CBRE’s Amy Julian and Andrew Chilgren represented the owner, WMP I LLC, in the transaction. Guggenheim provided $113.6 million in financing. The property’s leasing agent, Chris Dekker of Mayfair Advisors, also assisted in the transaction and will continue providing leasing services.

The property completed a $37 million renovation in 2025, including a revitalization of the retail Promenade and upgrades to the open-air lobby and arrival experience. Mayfair in the Grove further benefits from an abundance of lifestyle amenities, including eight on-site food and beverage concepts and direct connectivity to the Mayfair House Hotel & Garden, a 179-room, Two-Michelin-Key hotel.

“The Sponsor has done an excellent job renovating the asset and, as a result, has had tremendous leasing success with over 250,000 square feet of activity since the start of 2022,” said Julian, Senior Vice President at CBRE.

Mayfair in the Grove is 98% leased to a diverse roster of brand-name tenants, with an 8.1-year weighted-average lease term.

“Coconut Grove remains one of Miami’s most dynamic and supply-constrained office submarkets, distinguished by 94% occupancy and 256,000 square feet of positive absorption since 2020, according to CBRE Econometric Advisors,” added Chilgren, First Vice President at CBRE.