$72M refinancing arranged for Adela at MiMo Bay

MIAMI, Aug. 7, 2025 – JLL Capital Markets announced today that it has secured a $72 million refinancing for Adela at MiMo Bay, a 236-unit, Class-A waterfront apartment community located in Miami's MiMo District.

JLL worked on behalf of the borrower, ACRE, in arranging the three-year, floating-rate loan through Nuveen Real Estate. The financing includes $63.1 million in initial funding and $8.9 million in future funding for planned property enhancements.

Adela at MiMo Bay, located at 6445 NE 7th Ave. in Miami's Upper East Side neighborhood, offers convenient access to I-95 and major thoroughfares, while being just 12 minutes from Downtown Miami and Brickell. The community sits adjacent to picturesque Legion Park and provides residents with direct waterfront views of Biscayne Bay. Its location appeals to those seeking luxury urban living with connectivity to major employers and entertainment.

Miami continues to experience robust economic growth with significant in-migration trends, creating strong fundamentals for multifamily assets. The MiMo District, in particular, has seen substantial revitalization, attracting young professionals and affluent residents to this historic neighborhood.

Adela at MiMo Bay, a 2020-vintage midrise residential complex, features a diverse range of studio, one-, two- and three-bedroom units, all designed with modern finishes including floor-to-ceiling windows, quartz countertops and stainless steel appliances. The property's planned enhancements will include 14 additional units and upgrades to the already impressive amenity offerings, which include a resort-style swimming pool, fitness center, expansive courtyard, and waterfront views.

JLL Capital Markets’ Debt Advisory team representing the borrower was led by Managing Director Jesse Wright, Senior Managing Director Peter Rotchford, Associate JJ Hovenden and Analysts Aaliyah St. Louis and Miguel Pedersen.

"The successful arrangement of refinancing for Adela at MiMo Bay underscores the continued strength of the Miami multifamily market," said Wright. "This property's prime waterfront location and ACRE's value-enhancement strategy make it an attractive investment in today's market."

ACRE, a global real estate private equity firm with over $4.4 billion in assets under management, plans to begin the enhancement program in September 2025 with completion expected in 2026.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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ACRE is a vertically integrated real estate private equity and multifamily investment firm that specializes in the investment, development, and management of quality, income-producing multifamily housing projects and communities. ACRE manages capital for institutional investors through a series of active investments in both direct equity and debt markets and has acquired, operated, developed and made loans on more than 25,000 apartments across 75 properties in 31 cities in the United States, United Kingdom and Southeast Asia.