Davie shopping center owner receives $22M loan

Ireland Cos. gets mortgage from City National for Town and Country renovation

TRD MIAMI /
Apr.April 02, 2014 11:15 AM

The family-owned Ireland Companies received a $22 million loan from City National Bank of Florida for the renovation of the Town and Country Shopping Center in Davie.

Ireland is set to reposition Town and Country as a destination retail center with the addition of Hobby Lobby and Whole Foods as anchor tenants, according to City National’s written statement announcing the transaction. The Tom Ireland-led company developed the shopping center on the southwest corner of University Drive and I-595 during the 1970s.

City National structured the loan with an initial funding of about $10.3 million. The entire loan amount is scheduled to be released when the two new anchor tenants occupy their spaces later this year.

“The commitment by Hobby Lobby and Whole Foods serves as evidence of the desirability of the location and the growing strength of the retail market in South Florida,” said Gary Fitzgerald, City National’s executive vice president of real estate banking. — Eric Kalis


Related Articles

arrow_forward_ios
From left: Bastian Laggerbauer and Harry Blyden, with 5400 South University Drive

Argentine investor pays $11M for Davie office complex

Moishe Mana and 25 West Flagler Street

Moishe Mana buys City National Bank building in downtown Miami

Frank Gore and his Davie home (Credit: Getty Images)

NFL’s Frank Gore lists Davie mansion

Rendering of Bridge Point 595 and Kevin Carroll

Bridge Development nabs $60M loan for Davie industrial project

Lennar's Stuart Miller and a rendering of a Sierra Ranch home

Lennar closes on 89-acre Davie site for single-family home community

Starwood Capital CEO Barry Sternlicht and the Summerlake Apartments

Starwood Capital pays $11M for affordable housing complex in Davie

Grand Peaks Properties CEO Luke Simpson and the Gardens at Nova at 6857 College Court

Grand Peaks Properties sells the Gardens at Nova for $30M

Bridge Development Partners Kevin Carroll, Partner, Southeast Region and 5600 Reese Road

Bridge Development buys Davie industrial site for $37M

arrow_forward_ios
Loading...