Key Takeaways
- • JLL Capital Markets arranged a $24.7 million refinancing for 2000 Ponce, a 109,745-square-foot luxury boutique office building in Coral Gables, Florida, demonstrating continued capital availability for high-end commercial real estate in South Florida.
- • Crestline Investors provided a five-year loan to Westside Capital Group, the sponsor, a private equity firm with over $4 billion in active projects led by founder Jakub Hejl.
- • The eight-story property features 49,044 square feet of net leasable office and retail space, a 105-space parking garage, and anchor tenants including Bachour Marketplace (operated by Michelin-awarded Chef Antonio Bachour) and D'Cassa, a high-end Italian kitchen showroom.
- • Westside acquired the property in 2022 and completed repositioning improvements including lobby modernization, office leasing, and amenity upgrades to attract premium tenants in the affluent Coral Gables submarket.
- • The property's strategic location—two blocks from Giralda Avenue's restaurant district, four blocks from Miracle Mile, 15 minutes north of Brickell/Downtown Miami, and 10 minutes from Miami International Airport—positions it to benefit from surrounding financial services and corporate headquarters activity.
Summary
JLL Capital Markets successfully closed a $24.7 million refinancing for 2000 Ponce, a luxury boutique office property in Coral Gables, Florida, marking continued institutional capital deployment into South Florida's high-end commercial real estate market. Crestline Investors provided the five-year loan to Westside Capital Group, the property's sponsor, signaling sustained lender confidence in well-positioned office assets in premium submarkets.
The 109,745-square-foot, eight-story property contains 49,044 square feet of net leasable area divided between office and ground-floor retail space, along with a 105-space parking garage. Westside Capital Group, founded and led by Jakub Hejl and managing over $4 billion in active projects, acquired the asset in 2022 and executed a comprehensive repositioning strategy. Capital improvements focused on modernizing the lobby, leasing office spaces to high-caliber tenants, and enhancing amenities to strengthen the building's competitive positioning within the Coral Gables submarket.
The property has attracted marquee tenants reflecting its premium positioning. Ground-floor retail space is anchored by Bachour Marketplace, a 9,832-square-foot bakery established by Michelin-awarded Chef Antonio Bachour. Additional tenants include D'Cassa, a high-end Italian kitchen showroom, and Zativa Life Health and Wellness Spa. The building serves as headquarters for Westside Capital Group itself, as well as the Hejl Foundation and other Westside portfolio companies, creating integrated operational synergies within the asset.
Location remains a primary value driver. Positioned two blocks from Giralda Avenue's established restaurant district and four blocks from the upscale Miracle Mile shopping corridor, the property benefits from proximity to South Florida's financial services clusters, professional practices, and corporate headquarters. Its accessibility—approximately 15 minutes north of Brickell/Downtown Miami and 10 minutes east of Miami International Airport—enhances its appeal to corporate tenants prioritizing regional connectivity.
JLL's Capital Markets Debt Advisory team, led by Jesse Wright, Matt McCormack, Joshua Odessky, and Patrick Salata, positioned the transaction as validation of sustained institutional demand for premium boutique office product across South Florida, despite broader office sector headwinds nationally.
The 109,745-square-foot, eight-story property contains 49,044 square feet of net leasable area divided between office and ground-floor retail space, along with a 105-space parking garage. Westside Capital Group, founded and led by Jakub Hejl and managing over $4 billion in active projects, acquired the asset in 2022 and executed a comprehensive repositioning strategy. Capital improvements focused on modernizing the lobby, leasing office spaces to high-caliber tenants, and enhancing amenities to strengthen the building's competitive positioning within the Coral Gables submarket.
The property has attracted marquee tenants reflecting its premium positioning. Ground-floor retail space is anchored by Bachour Marketplace, a 9,832-square-foot bakery established by Michelin-awarded Chef Antonio Bachour. Additional tenants include D'Cassa, a high-end Italian kitchen showroom, and Zativa Life Health and Wellness Spa. The building serves as headquarters for Westside Capital Group itself, as well as the Hejl Foundation and other Westside portfolio companies, creating integrated operational synergies within the asset.
Location remains a primary value driver. Positioned two blocks from Giralda Avenue's established restaurant district and four blocks from the upscale Miracle Mile shopping corridor, the property benefits from proximity to South Florida's financial services clusters, professional practices, and corporate headquarters. Its accessibility—approximately 15 minutes north of Brickell/Downtown Miami and 10 minutes east of Miami International Airport—enhances its appeal to corporate tenants prioritizing regional connectivity.
JLL's Capital Markets Debt Advisory team, led by Jesse Wright, Matt McCormack, Joshua Odessky, and Patrick Salata, positioned the transaction as validation of sustained institutional demand for premium boutique office product across South Florida, despite broader office sector headwinds nationally.
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