2 Firms Ink $132M Miami Student Housing Refinancing

Day Pitney Miami Partner Daniel Diaz Leyva was recently featured in Law360 after leading the firm’s representation of asset manager The TREO Group in the $132 million refinancing of its student housing development at the South Miami Metrorail Station near the University of Miami. Day Pitney successfully guided the transaction collaborating with Ocean Bank’s counsel Holland & Knight, which underscores the sustained strength of South Florida’s multifamily and student housing markets.

Diaz Leyva, chair of the firm’s Florida Real Estate practice, explained that the refinancing reflects a broader trend of renewed activity across Miami’s real estate market as lenders and investors reengage amid shifting economic conditions. He noted, “That’s the strategy that’s implemented here and in several other student housing developments that we’re seeing in and around Coral Gables in South Miami...” He added, “These rate cuts and projected future rate cuts are starting to get people off the sidelines… I’m seeing them lend more and more, which is a good sign in the market that things are starting to unlock.”

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