Barlington Group refinances Little Havana properties with $12.2M loan

The Barlington Group has secured $12.2 million refinancing for a six retail properties in Little Havana and Brickell. The loan was arranged by HFF, a Pittsburgh-based real estate capital intermediary.

The note is a 10-year fixed-rate CMBS loan through UBS Investment Bank. It covers six fully-leased that Barlington has acquired in the last five years:

• Goodwill Superstore, 982 Southwest Eighth Street
• Futurama, 1637 Southwest Eighth Street
• A recently completed 7-11, 735 Northwest 12th Avenue;
• Village Shops of Little Havana, 541 SW 12th Avenue;
• Pents and Frows, 3670 Grand Avenue;
• and Brickell Station,at the intersection of Southwest Eighth Street and Southwest First Avenue at the entrance to Miami’s Brickell Financial District

The area is attracting money and development as well. In August, a company managed by Sam Herzberg paid $14.5 million for a nine-property portfolio on Southwest 8th Street and 27th Avenue and The Astor Cos. announced a 320-unit condo project in January. — William J. Gorta