Retail - Debt

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

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.