$117 Million Financing Secured for NoLi Redevelopment on Miami Beach's Lincoln Road

Ackerman & Co. has secured $117 million in financing for Comras Company to acquire five buildings along Lincoln Road in Miami Beach, paving the way for the redevelopment of the area into NoLi, a newly curated retail, dining and lifestyle destination. Jonathan Rice, Executive Vice President of Capital Markets for Ackerman & Co., arranged the financing with ACORE Capital. This substantial financial backing represents one of the largest recent investments in Miami Beach's commercial real estate market and signals strong confidence in the continued growth of Lincoln Road as a premier retail destination.

The financing enables Comras Company to acquire the five buildings from affiliates of Morgan Stanley and Terranova Corp., located along the popular Lincoln Road pedestrian mall. The combined properties total 150,000 square feet at 600-612, 719-737, 741 and 801 Lincoln Road and 723 N. Lincoln Lane. Jonathan Rice expressed enthusiasm about securing this financing for his longtime client, noting that NoLi promises to be another transformative development by Comras in Miami Beach, alongside recently completed projects like the CocoWalk redevelopment in Coconut Grove and the retail component of Miami World Center.

The redevelopment plans call for extensive renovations to create more than 40 inline retail spaces for a curated blend of boutique retail, dining, wellness and lifestyle concepts, with the goal of opening in the first quarter of 2027. This project comes at a time when Lincoln Road is also set to benefit from almost $30 million in city-funded streetscape upgrades that will include fresh landscaping, additional outdoor seating, improved lighting and expanded sidewalks. The timing of these public improvements alongside private redevelopment creates a synergistic effect that could significantly enhance the pedestrian experience and commercial viability of the entire Lincoln Road corridor.

The scale of this investment underscores the continued strength of Miami Beach's retail market and the strategic importance of Lincoln Road as a regional shopping and tourism destination. The transformation of these properties into NoLi represents a significant evolution in the area's retail landscape, moving beyond traditional shopping to create a comprehensive lifestyle destination that responds to changing consumer preferences. For more information about the company behind this financing arrangement, visit https://www.ackermanco.com. The project's success could set new standards for retail development in South Florida and influence future investment patterns in similar urban retail districts throughout the region.