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South Florida

New York-based investment group to pump $21M into Lincoln road retail

Retail along Miami’s Lincoln road has flourished after several recent investments. Now, the road will see an additional $21 million retail investment from Aurora Capital Associates. The New York Observer reported that Massey Knakal Capital Services has arranged for Wells Fargo to lend $21 million to the New York-based firm in order to expand its retail presence along Miami’s popular shopping strip. The exact address could not be learned by the Observer, however.

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“The sponsor, Aurora Capital Associates, had done a great job repositioning the retail by upgrading the tenancy and increasing the rents to market-rate,” said Morris Betesh, director of MKCS. [NYO] – Christopher Cameron

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