Moishe Mana scored a $150 million refinancing for his expansive property portfolio in Wynwood.
The loan covers 56 properties in Miami’s arts district and was provided by WFL Lender, a Delaware-registered entity, according to the mortgage record. The properties surround his Mana Wynwood Convention Center at 318 Northwest 23rd Street in Miami and exclude the events venue.
Properties the loan covers include lots at 435 Northwest 22nd Lane and 2320 Northwest Fifth Avenue, as well as the buildings at 550 Northwest 24th Street, 2308 and 2324 Northwest Fifth Avenue, according to records. The majority of the properties are along 21st, 22nd and 23rd streets, both east and west of Fifth Avenue.
In 2022, Mana secured a $275 million line of credit for his Wynwood properties from Centennial Bank, drawing $58.2 million from the credit line at the time. Records show Mana paid off the balance with Centennial on the same day he took out the WFL loan.
Mana, who scored city approval to develop a 30-acre project in Wynwood in 2016, has renovated and reopened aging warehouses in recent years, including as event venues, retail buildings and galleries.
But he has not completed any ground-up construction. The developer, who is likely the biggest Wynwood property owner, often has said he wants to create an “ecosystem” and a community with “connectivity” between tenants, and between the city and the world. This includes a planned Asia-Americas trade center.
It’s not about building new towers and quickly leasing them, he has said. Now, Trump’s tariff and deportation policies are making construction difficult, Mana said.
Last fall, Mana overhauled his original plan for 9.7 million square feet of buildings up to 24 stories, steering away from glass office and residential towers. Renderings provided at the time showed projects more in line with Wynwood’s character of an arts district, including octagonal, pentagonal and triangular-shaped exterior walls.
Project plans continue to evolve, and Mana is prioritizing redevelopment east of Northwest Fifth Avenue, said Joe Clark, an architect at Mana’s Mana Common firm.
Mana also has massive holdings in downtown Miami, where he is the biggest property owner. He has prioritized preservation of the neighborhood’s eclectic architecture and renovation of existing buildings, including the 13-story building at 155 South Miami Avenue into the Nikola Tesla Innovation Hub, and the 777 International Mall building. Renovation of the building at 19 West Flagler Street is expected to be completed early next year, with fashion showrooms already open, Clark told The Real Deal last fall.
Eventually, Mana’s plan for downtown Miami is for 4.2 million square feet of development, including condos, apartments and hotel keys.
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