RFR Secures $101 Million Loan for Miami Office

Derby Lane Partners and Axonic Capital provided the refinancing for the Downtown Miami property at 100 Biscayne.

Updated on Nov. 11, 2026 in Commercial

Isometric editorial illustration of a tall rectilinear office tower with stacked teal and cream bands beside a mustard waterline and oxblood tree forms. — RFR secured a $101 million loan from Derby Lane Partners and Axonic Capital to refinance its 317,000-square-foot 100 Biscayne office building in Downtown Miami. AI Illustration. Upload story photo >

RFR obtained a $101 million loan to refinance 100 Biscayne in Downtown Miami, a 317,000-square-foot property across from Bayfront Park. RFR acquired the building in January 2022 for $90 million and has leased roughly 248,000 square feet there since.

Why it matters

The refinancing reflects the leasing progress RFR has made at the property, with occupancy reported to have risen from under 60 percent to around 90 percent. It signals continued lender confidence in Miami's downtown commercial office market.

The $101 million refinancing sits against a $90 million purchase price paid in January 2022, and occupancy has climbed from under 60 percent to around 90 percent. Loan rate and maturity terms were not disclosed, and Axonic Capital declined to comment.

The players

RFR

RFR is a New York-based real estate firm that owns and manages commercial properties, including the 100 Biscayne building in Miami.

Derby Lane Partners

Derby Lane Partners is a real estate lender that provided part of the $101 million financing for the 100 Biscayne refinancing.

Axonic Capital

Axonic Capital is an investment firm that provided part of the $101 million financing for the 100 Biscayne refinancing and declined to comment on the deal.

The details

Derby Lane Partners and Axonic Capital provided the loan to refinance the 317,000-square-foot building. RFR has repositioned the property into a Class A boutique office building, with tenants including LVMH, Luxottica, AT&T, Verizon, and several consulates and data center companies.

January 2022: RFR acquired 100 Biscayne for $90 million.
November 11, 2026: RFR sealed the $101 million refinancing loan.

Market Dynamics

The refinancing extends a post-pandemic pattern in which Miami's downtown office buildings have been regaining tenants and attracting institutional lenders. Lenders backing the deal indicate that repositioned Class A space is drawing capital even as office demand elsewhere remains uneven.

Downtown Miami tenants and office seekers may see more leasing activity as owners reposition older buildings into Class A space. Businesses weighing a Miami office move can expect landlords with stabilized occupancy to be focused on rent growth.

The takeaway

Stabilized occupancy and steady leasing are what let owners refinance older commercial buildings on favorable terms. Tenants evaluating downtown Miami space should expect owners to prioritize rent growth as occupancy holds near 90 percent.