Terra Secures $238 Million Refinancing For THE WELL Bay Harbor Islands, Miami’s First 360-Degree Wellness Lifestyle Development

Source: THE WELL Bay Harbor Islands

Reported By: Matthew Kennedy

Terra has taken a pivotal step toward delivering THE WELL Bay Harbor Islands, announcing a $238 million refinancing loan secured from Eldridge Real Estate Credit and Hudson Bay. The long-term financing strengthens momentum behind what is being recognized as the world’s first 360-degree wellness lifestyle property, uniting next-level residences, thoughtfully programmed office space, and an expansive WELL-branded amenity collection.

The transaction was brokered by Keith Kurland, Senior Managing Director & Co-Head NY Capital Markets at Walker & Dunlop, and Jordan Casella, Managing Director for Institutional Advisory Practice at Walker & Dunlop.

Located in the tranquil island community north of Miami Beach, THE WELL Bay Harbor Islands integrates residential living, wellness programming, and workspace into one cohesive environment, championing whole-person health with a luxury lens.

Designed by Arquitectonica with interiors by award-winning Meyer Davis, the development centers around an eight-story luxury condominium offering 66 bespoke residences. Floor plans emphasize clean lines, calming palettes, and intuitive flow while connecting residents to more than 22,000 square feet of wellness-focused amenities.

Residential TCO (Temporary Certificate of Occupancy) is expected before the end of the year, with the THE WELL Club and offices to follow in early 2026, marking the beginning of activated occupancy.

THE WELL Bay Harbor Islands extends beyond resort-style living to support daily wellness through curated spaces and healing-focused services. A four-story commercial building anchors the project, housing 102,000 square feet of office space, a lobby, and a rooftop, with 80 percent of offices pre-leased.

The on-site THE WELL Club features Miami’s first Caldarium, Saunarium, and Halotherapy Steam Room within its bathhouse, introducing time-honored therapeutic rituals into a contemporary context.

A state-of-the-art fitness center and mindful movement studio will host a robust calendar of classes ranging from high-intensity training to guided meditation. Programming includes IV vitamin therapy, acupuncture, and vibrational energy healing, reinforcing the development’s 360-degree approach to health.

A signature market devoted to organic, sustainable, and clean eating further speaks to the property’s wellness ethos.

Terra and THE WELL have collaborated with globally recognized talent to realize an elevated residential vision. Arquitectonica’s contemporary architecture complements interior spaces by Meyer Davis that reflect THE WELL’s signature philosophy: intuitive service and thoughtful design that inspire reconnection, restoration, and community.

The result is a residential environment positioned to serve as a deeply intentional sanctuary, informed by ancient practices and enhanced by modern science.

As South Florida continues to flourish, wellness-driven developments are taking center stage. THE WELL Bay Harbor Islands serves this evolution, blending curated living with workspaces to meet rising demand for environments that support every facet of life.

The property’s mix of homes, club amenities, and office suites — all tied together through THE WELL’s holistic approach — positions it as an emerging anchor for mindful living in the region.

With strong residential sales and substantial pre-leasing, the development demonstrates a clear appetite for a deeper and more intentional relationship with wellness. Terra’s latest financing milestone signals confidence in that future.