L&L Holding and Oak Row Equities have secured $335 million to refinance the newly completed Wynwood Plaza mixed-use complex in Miami, where Amazon is setting up an office, the companies announced Wednesday.

Blue Owl Capital provided the floating-rate bridge loan, which will retire the original $215 million construction debt that Bank OZK issued in 2023. The proceeds will also cover costs associated with the leasing of the office and residential components. 

The financing comes as the stock price of Blue Owl Capital, one of the largest private credit firms, tumbled on Tuesday. Wall Street is growing wary of private credit, amid concerns that artificial intelligence could disrupt software companies that have long depended on it.

New York-based L&L Holding and Miami-based Oak Row Equities completed the Wynwood Plaza last year. The 1 million-square-foot, 12-story campus includes 509 apartments, 266,000 square feet of office space and about 25,000 square feet of retail space.

The joint venture spent about $53 million assembling the 3-acre site at 95 Northwest 29th Street, adjacent Northwest First Avenue.

In addition to Amazon’s 75,000-square-foot lease, other office tenants include Miami developer Oko Group, law firm Weitz & Luxenberg, and Claure Group, the investment firm of former SoftBank CEO Marcelo Claure, which is also an investor in the Wynwood Plaza. 

“Our goal was to create a new upper tier for the neighborhood — a place where world-class companies like Amazon and sophisticated residents can thrive in a meticulously designed environment,” Erik Rutter and David Weitz, managing partners at Oak Row Equities, said in a joint statement. “Securing this capital allows us to transition into the long-term stewardship of a campus that has already become the heartbeat of the Wynwood Arts District.”

Walker & Dunlop’s Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Stepniewski and Sean Bastian brokered the debt. 

Julia Echikson can be reached at jechikson@commercialobserver.com.