The Real Deal Miami

Sedano’s-owned and anchored shops granted $18M loan

Shopping center near Hialeah includes Carrabba’s Italian Grill
By Katherine Kallergis | May 15, 2015 09:45AM

Lakes on the Green shopping center near Hialeah

Lakes on the Green shopping center near Hialeah

Starwood Mortgage Capital granted the owner of a shopping center near Hialeah an $18 million mortgage, according to Miami-Dade County records.

The 13.2-acre site is anchored by a Sedano’s Supermarket. Carrabba’s Italian Grill is also a tenant.

Miami Gardens Drive LLC, a company tied to Sedano’s Supermarkets, acquired the property out of foreclosure for $900,100 in August, according to Miami-Dade County property records. It was also the center of a $30.3 million foreclosure lawsuit in 2009, the South Florida Business Journal reported at the time.

Lakes on the Green shopping center was built between 2006 and 2010, and is located at 18600 Northwest 87th Avenue.

Sedano’s President and CEO Agustin Herran signed the mortgage, which was granted this week. In December, Herran paid $4.3 million for a foreclosed shopping center in Homestead.