Adam America and JW Capital Secure $180M Refinancing for Sweetwater Student Housing Near FIU

Adam America Real Estate and JW Capital Management have successfully secured a $180 million refinancing loan for their Terrazul student housing development in Sweetwater, Miami-Dade County. Corebridge Financial provided the financing, which will retire the property's original construction loan and return cash-out proceeds to the joint venture. Walker & Dunlop Capital Markets Institutional Advisory arranged the deal.

Completed in 2024 at 700 Southwest 107th Avenue, the 22-story Terrazul property features 932 units, accommodating 1,201 beds, along with 647 parking spaces and 15,442 square feet of ground-floor retail. The asset, located directly across from Florida International University's east entrance, boasts a 98 percent occupancy rate. Adam America CEO David Brickman noted that the refinancing underscores the strength of the FIU student housing market and the quality of the asset, enabling the partners to realize value and pursue further investments in high-growth areas.

This transaction allows the developers to optimize their capital structure for a high-performing asset in a key university market.