The Real Deal Miami

New York-based FMP acquires mortgage on Marina Blue retail condominium

November 02, 2011 12:20PM

New York-based First Market Properties has acquired the mortgage on a
35,000-square-foot retail condominium at the base of the Marina Blue
condominium tower on Biscayne Boulevard in Miami. The original balance on the
mortgage was $10.14 million, but no other financial terms were
disclosed. “The retail segment of Marina Blue has enormous potential
because of the dynamic changes taking place in the neighborhood,” said
Aaron Kurlansky, senior vice president at FMP. The space is near the
future site of the Miami Art Museum in the area called Museum Park. — Alexander Britell