The Real Deal Miami

New York-based investment group to pump $21M into Lincoln road retail

August 08, 2012 03:00PM

Lincoln road

Retail along Miami’s Lincoln road has flourished after several recent investments. Now, the road will see an additional $21 million retail investment from Aurora Capital Associates. The New York Observer reported that Massey Knakal Capital Services has arranged for Wells Fargo to lend $21 million to the New York-based firm in order to expand its retail presence along Miami’s popular shopping strip. The exact address could not be learned by the Observer, however.

“The sponsor, Aurora Capital Associates, had done a great job repositioning the retail by upgrading the tenancy and increasing the rents to market-rate,” said Morris Betesh, director of MKCS. [NYO] Christopher Cameron