JSB Capital Scores $238M Refi for Miami-Area Community
Torchlight Investors provided the note.
JSB Capital Group has received a $238 million refinancing loan from Torchlight Investors for The Landmark South, a 631-unit Class A community in Doral, Fla., a submarket of Miami. Walker & Dunlop arranged the transaction on behalf of the borrower.
JSB acquired the community in 2021 for $255 million from Canyon Partners, Yardi Matrix shows. The new financing is a floating-rate, interest-only bridge loan.
In 2023, JSB obtained a $154.1 million Freddie Mac loan as part of a recapitalization arranged by JLL. The loan—which was scheduled to mature in June 2028 according to Yardi Matrix—was paired with a $65.8 million preferred equity investment from Pensam.
The community includes one-, two- and three-bedroom layouts with in-unit laundry, walk-in closets and granite countertops. The developer delivered the property in two phases, with 418 units completed in 2017 and the remaining 213 units completed in 2021. AECOM-Canyon Partners developed the second phase, while Moss & Associates served as general contractor.
Shared amenities at the Landmark include a swimming pool, a fitness center, a clubhouse and a playground. Bryten Real Estate Partners manages the property, according to Yardi Matrix. Occupancy at The Landmark South was 93 percent in August, the same source shows.
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Located at 6055 NW 105th Court in Doral, The Landmark South is 11 miles away from Miami International Airport. Major retailers such as ALDI, Ace Hardware and Publix are within walking distance.
Walker & Dunlop’s Aaron Appel, Michael Stepniewski, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Sean Bastian and Stanley Cayre arranged the financing on behalf of the owner.
Earlier this year, JSB sold a separate Sun Belt property to NexPoint for $49.5 million. The company also traded Waterford Place, a 240-unit in Greensboro, N.C., in January after six years of ownership.
Walker & Dunlop arranges large refinancings
This deal builds on Walker & Dunlop’s Capital Markets team’s momentum. In the first half of 2026, the team sourced around $9.6 billion in multifamily financing from non-agency capital providers.
Last week, the firm facilitated a $180 million refinancing for a student housing community, Terrazul, in Sweetwater, Fla. Corebridge Institutional Investment provided the capital to a joint venture between Adam America Real Estate and JW Capital Management.
In August, Walker & Dunlop arranged a $137.5 million refinancing for EJS Group and Hope Street Capital’s 240-unit 12 Halsey in Brooklyn, N.Y. AllianceBernstein provided the three-year, floating-rate loan. One week prior, the firm also arranged Scion Group’s $555.6 million refinancing for a 14-property student housing portfolio totaling 10,454 beds.
