Publix-anchored Pembroke Pines shopping center scores $14M refi

Publix is one of the few businesses open during the coronavirus pandemic

Miami /
Apr.April 27, 2020 05:30 PM
1601-1697 North Hiatus Road

1601-1697 North Hiatus Road

The Publix-anchored Village Square Shopping Center in Pembroke Pines scored a $14 refinancing loan.

Aruba/ Pembroke Investments N.V. LLC, led by Maria Clara Garbati of Fort Lauderdale, secured the loan for the property at 1601-1697 North Hiatus Road from NorthMarq’s Miami office. The property, which also includes a Bank of America and McDonald’s, totals 88,529 square feet, according to a press release.

Aruba/ Pembroke Investments N.V. LLC purchased the property for $7.1 million in 1995, records show.

The loan has a 21-year term with one year of interest only, followed by a 20-year amortization schedule, according to the release.

Many developers are seeking to refinance to take advantage of low interest rates.

Publix is one of the few essential businesses that have been allowed to stay open during the pandemic. In many cases Publix is its own landlord. Of the company’s 1,239 supermarkets, Publix owns the land and the building at 351 locations, according to the company’s annual report.

Last year, it paid $70 million for the Publix-anchored Doral Plaza Shopping Center in Doral.


Related Articles

arrow_forward_ios
Federal Realty CEO Donald Wood and The Shops at Pembroke Gardens at 527 Southwest 145th Terrace in Pembroke Pines (Getty Images, Pembroke Gardens, Federal Realty)
Federal Realty buys Pembroke Pines shopping plaza for $180.5M
Federal Realty buys Pembroke Pines shopping plaza for $180.5M
Brookfield Properties' Jared Chupaila and Pembroke Lakes Mall in Pembroke Pines (Brookfield Properties, LoopNet, iStock)
Saddled with $260M debt, Pembroke Lakes Mall could be in trouble: Morningstar
Saddled with $260M debt, Pembroke Lakes Mall could be in trouble: Morningstar
TPA's J Bradford Smith with conceptual site plan for Edison Pembroke (TPA,Nelson)
Developer switches office park plan in Pembroke Pines to mixed-use apartment project
Developer switches office park plan in Pembroke Pines to mixed-use apartment project
Barron Real Estate principal Charles Ladd with JBL Asset Management Managing Partner Jacob Khotoveli and Plantation Marketplace at 7023 West Broward Boulevard in Plantation and Rivertowne Square at 1015 South Federal Highway in Deerfield Beach (Google Maps, LinkedIn, JLL)
Grocery store-anchored shopping center sales ignite South Florida’s retail market
Grocery store-anchored shopping center sales ignite South Florida’s retail market
Publix, West Palm Beach
Publix pays $57M for shopping center it anchors in West Palm Beach
Publix pays $57M for shopping center it anchors in West Palm Beach
Transamerican Development's President Albert Benalloun with  3100 South Ocean Drive (Google Maps, Benher Capital)
Publix pays $13M for waterfront Hollywood site approved for supermarket
Publix pays $13M for waterfront Hollywood site approved for supermarket
Dacar Management's Alberto Micha-Buzali with Residences and Shoppes (LinkedIn, Dacar Management)
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
12955 Southwest 112th Street (Aztec Group)
Investors score $36M loan to renovate Publix-anchored shopping center in Kendall
Investors score $36M loan to renovate Publix-anchored shopping center in Kendall
arrow_forward_ios

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

Loading...