Saglo closes on $20M loan for Miami shopping center

Financing is to pay off mortgage and fund capital improvements

TRD MIAMI /
Dec.December 14, 2015 09:45 AM

Saglo Development closed on $20 million in financing for Vista Shopping Center, Miami-Dade County records show. 

The Miami-based commercial real estate company owns the 88,700-square-foot property at 6400 Northwest 186th Street, near Hialeah and Miami Lakes. Sedano’s Supermarket and Navarro Pharmacy anchor the retail strip, which offers nearby access to 826 Expressway and I-75.

The financing was used to satisfy the mortgage and make capital improvements to the 9.2-acre shopping center, according to a press release. HFF director Chris Drew and associate director Jose Carrazana arranged the 10-year, fixed-rate loan. TD Bank is the lender.

In a statement, Drew said HFF has seen “an increased appetite” from debt and equity providers for specialty grocery store-anchored shops like Sedano’s.

Other tenants include Chipotle Mexican Grill, Bridgestone and Catherine’s Fashions. It’s 97 percent leased, according to HFF. Vista Shopping Center was developed in 1988, Miami-Dade property records show. Saglo bought the property in 1988.

Saglo, headquarted in Brickell, specializes in the acquisition, renovation and management of community shopping centers. As of August, it owned 950,000 square feet of retail in Florida.


Related Articles

arrow_forward_ios
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Brookfield’s Brian Kingston and 14100 Northwest 60th Avenue (Google Maps)

Brookfield snags Miami Lakes warehouse for $22M

Brookfield snags Miami Lakes warehouse for $22M
Jeff Burns, Nick Rojo, The Bohemian Lake Worth

Affiliated Development’s Lake Worth Beach apartment project approved

Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
Greg Ward, Ward Law Group at 6625 Miami Lakes Drive (Credit: Google Maps)

Ward Law buys Miami Lakes building for new HQ

Ward Law buys Miami Lakes building for new HQ
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...