Loan clears the way for Flamingo Pines Plaza sale in Pembroke

Loan clears the way for Flamingo Pines Plaza sale in Pembroke

Published at: 2018-01-10 15:36 | Author: CIJ USA
JBL Asset Management has locked up a $27 million acquisition loan for the purchase of the Flamingo Pines Plaza shopping center in Pembroke Pines. Meridian Capital Group arranged the financing, a three-year loan that features a floating rate with a one year of interest only payments, through Regions Bank. JBL Asset Management paid $33.2 million for the 139,462 square foot shopping center on Pines Boulevard. Currently 99 percent leased, the center's tenant list includes State Farm, USPS, GoodWill, Florida Technical College, La Granja Seafood, Cricket Wireless and Mattress Firm. The asset is shadow anchored by Publix and a Walmart Supercenter and is immediately adjacent to the 1.1 million square foot Pembroke Lakes Mall.

Similar Stories:

Aventura Mall secures $1.75bn in refinancing
A joint venture between Turnberry Associates and Simon Property Group has secured $1.75bn  »
Palms Plaza in Boca Raton sells for $30m
Crow Holdings Capital Real Estate, an affiliate of Trammel Crow, purchased a Boca Raton sh  »
Target to open 50,000 sqm small-format store in Brooklyn
Bridges Development Group signed a 50,000 sq ft lease with Target. The retail giant is pla  »
Myron Vogel buys Okee Square for $18.4m
Boca Raton real estate investor Myron Vogel paid $18.4m for the Okee Square shopping cente  »
“It has finally reached the point where it is the fair-haired child of commercial real e   »
The only new enclosed mall on course to open in Florida is The Mall at University Town Cen   »
As Florida pushes ahead of New York to become the third most populous state in the country   »
OPEC is back to its squabbling ways. But investors who are b  »
OPEC is back to its squabbling ways. But investors who are b  »
David Bassanese of BetaShares Capital says the general trend  »
David Bassanese of BetaShares Capital says the general trend  »