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.

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