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South Florida

Berkowitz obtains $45M refi for shopping center

Kendallgate Shopping Center
Kendallgate Shopping Center

Berkowitz Development Group has obtained a $45 million refinancing from PNC Bank for its Kendallgate Shopping Center in Miami-Dade County’s West Kendall neighborhood.

The Miami company received a 10-year fixed-rate loan secured by the nearly 195,000-square-foot shopping center, Daily Business Review reported. The interest rate was not disclosed.

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Kendallgate was built in 1989 and renovated in 2004. Tenants at the 11910 Southwest 88th Street center include Bed Bath & Beyond, Chili’s, DSW, Macaroni Grill and Sports Authority.

A longtime retail developer and owner, Berkowitz also owns Gables Station near Coral Gables, Fifth and Alton in Miami Beach and Dadeland Station in Miami. [Daily Business Review] — Eric Kalis

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DevelopmentWest Kendall