The newly developed Miami shopping center Fontainebleau Park Plaza received a $49 million loan from Integra Real Estate Capital.
The commercial mortgage brokerage firm, based in New York City, secured the 10-year interest-only loan for the 235,000 square foot center. The loan was arranged managing partner at Integra, Russell Kimyagarov, according to a news release.
The 31-acre shopping center, located on the Northwest corner of Northwest 92 Avenue and West Flagler Street, is 1.2 miles west of the Palmetto Expressway. It’s anchored by a Wal-Mart Supercenter, L.A. Fitness, La-Z-Boy and Discovery Clothing. — Kristina Puga