Northmarq arranges $20M refinance for multi-tenant retail property in Hallandale Beach, FL
HALLANDALE BEACH, Fla. — Northmarq’s Miami Debt + Equity team led by Bob Harrington successfully arranged $20 million in financing for Hallandale Shopping Center, a 90,097-square-foot multi-tenant retail property located at 1600-1750 E. Hallandale Beach Blvd. in Hallandale Beach, Florida.
Northmarq arranged financing on behalf of the borrower through a correspondent relationship with a life company lender. The permanent fixed-rate financing is structured on a five-year term and a 30-year amortization period.
"This is a very well-located property that was undergoing transitional leasing among its junior anchor tenants while also facing a loan maturity,” Harrington said. “After canvassing the market, Northmarq identified a life company lender that provided significant cash out at closing while also structuring an upfront escrow to allow future funds to be released as these tenants took occupancy.”
Harrington said Northmarq also secured a rate lock at application, helping the borrower avoid more than 20 basis points of widening in the five-year Treasury between application and closing.
Situated along Hallandale Beach Boulevard in the Miami-Fort Lauderdale metro area, Hallandale Shopping Center occupies a highly visible 5.18-acre site in one of South Florida’s most densely populated and economically vibrant corridors.
The property is anchored by Broward Memorial Hospital and features a diverse mix of neighborhood-serving retailers, including a farmer’s market, nail salon and dental practice, providing essential services to the surrounding community.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
