Homestead, FL – November 29th, 2021 – MMG Equity Partners has acquired 1020 & 1090 N Homestead Blvd, a 1.99-acre site on the SW corner of US-1 and NE 11th Street in Homestead, FL. The property currently has two buildings totaling 23,629 SF, operating as Mario’s Latin Café – a full-service restaurant, and The Inn of Homestead – 50 room motel.
MMG purchased the property for $4,200,000. Seacoast Bank provided the buyer with a $2,520,000 acquisition loan.
“Homestead is experiencing incredible growth in rooftops, which has rendered a need for additional service retail. We will continue operating this property for the time being and likely develop it in the future” said Marcos Puente, MMG’s Director of Acquisitions.
More information is available at: http://homesteadcorners.com
MMG has been an active buyer of South Florida real estate. In May 2021, the company acquired Plantation Square Plaza http://plantationsquareplaza.com in Plantation, FL. MMG is long in South Dade, having recently acquired and remodeled Naranja Plaza http://naranjaplaza.com, a 52,000 SF strip center in Southern Miami-Dade County.
About MMG Equity Partners
MMG Equity Partners is a privately-owned real estate investment company focused on long-term ownership, management, development, and acquisitions of shopping centers in Florida. For more information about MMG Equity Partners, please visit www.mmgequitypartners.com