Affiliates of MMG Equity Partners completed the financing of 8 retail properties in Florida for a combined $43M.
The properties are:
Bird Thirteen LLC – a 44,689 SF shopping center located on Bird Road and 144th Ave, tenants include Navarro Discount Pharmacy, Starbucks and T-Mobile. Loan amount $7,480,000 financed by Ocean Bank.
SVSC – a 53,000 SF shopping center located on Sunset Drive and 107th Ave. Tenants include Navarro Discount Pharmacy and T-Mobile. Loan amount $10,200,000 financed by Ocean Bank.
Ponce Two, LLC – a free-standing 25,000 SF building located at 3949 SW 8 ST occupied by Navarro Discount Pharmacy. Loan amount $4,590,000 financed by Ocean Bank.
NDPRE #14, LLC – a free-standing 8,500 SF building located at 18500 Collins Ave occupied by Navarro Discount Pharmacy. Loan amount $2,034,000 financed by Ocean Bank.
NDPRE #15, LLC – a free-standing 7,000 SF building located at 631 71 ST, Miami Beach occupied by Navarro Discount Pharmacy. Loan amount $2,040,000 financed by Ocean Bank.
NDPRE #16, LLC – a free-standing 4,000 SF building located on Kendall Drive and 97th Ave in Miami occupied by T-Mobile. Loan amount $2,200,000 financed by Ocean Bank.
Harbour Village Holdings, LLC – a 113,000 SF shopping center located on Atlantic Blvd and San Pablo Road in Jacksonville. Owned through a JV with Global Fund, Harbour Village is anchored by The Fresh Market and Stein Mart. Loan amount $9,000,000 financed by ING.
Pine Plaza Holdings LLC – a 238,000 SF shopping center located on Pine Island Road and 44th Street in Sunrise. Owned through a JV with Global Fund, Pine Plaza is anchored by Winn-Dixie, Frank Theatres, and Family Dollar. Loan amount $6,200,000 financed by Wells Fargo.
As per Gabriel Navarro, principal of MMG, loan proceeds will be used to finance additional retail acquisitions and loan purchases in Florida.
For additional information, and for loan sale and property disposition opportunities, please contact
MMG Equity Partners
Gabriel Navarro
(305) 637.7312
Leave a Reply