JLL Capital Markets has successfully arranged a $38 million refinancing for the Miami In-Fill Retail Portfolio, a collection of four fully leased retail centers in Miami-Dade County, Florida. The portfolio, covering 127,826 square feet, includes Pinecrest Center, Westlake Plaza, Naranja Plaza, and Pinecrest Shoppes, all located in high-demand South Florida submarkets. The refinancing, secured through Synovus Bank, is a 10-year, fixed-rate loan. This transaction highlights the strong fundamentals of Miami's retail market, characterized by significant rent growth and low vacancy rates. The renovation and repositioning efforts by the sponsor, MMG Equity Partners, have driven substantial portfolio NOI growth, transforming these properties into high-performing retail destinations.
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