The Real Deal Miami

Bilzin Sumberg’s Adam Lustig closes $18.2 million refinance on Hialeah center

November 13, 2012 12:45PM

Adam Lustig

Bilzin Sumberg partner Adam Lustig has closed an $18.2 million refinance on Hialeah’s Flaming Park Plaza shopping center. The 129,000-square-foot property is located at 4410 West 16th Avenue in Hialeah. Bilzin represented the borrower, Flamingo Kids. The loan was made by Wells Fargo Bank, which reportedly intends to securitize it in the CMBS market. “Retail leasing and sales volume are picking up once again, and this deal is an example of the renewed activity underway,” Lustig said. “Tenants are looking to expand as the economy continues to stabilize. This rings true particularly in South Florida, where foreign investment and residential growth is spurring retail development.” Tenants at the property include Navarro, Dollar Tree Stores and Goodwill. — Alexander Britell