NorthMarq’s Miami office secures $14 million refinancing of Village Square Shopping Center in Pembroke Pines, Florida

Village Square Shopping Center

Debt & Equity

Multi-Tenant

MIAMI, FLORIDA (April 9, 2020) – Michael Balan, senior vice president of NorthMarq’s Miami office, arranged $14 million in refinancing for Village Square Shopping Center. The 88,529 sq. ft. retail property is located at 1601-1697 North Hiatrus Road in Pembroke Pines, Florida. The property contains a new Publix plus two outparcels – Bank of America and McDonald’s.

“The combination of a great location, quality tenants and substantial historical anchor sales allowed us to attract a long-term fixed rate well below most lenders shorter term rates. NorthMarq was able to offer multiple extremely competitive options,” said Balan.

The transaction was structured with a 21-year term with 1-year of interest only followed by a 20-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.

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About Northmarq

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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.