July 9, 2020
CBRE has secured a $7 million loan to refinance a 78,486-square-foot retail center in Aventura. Paul Ahmed and Mackenzie Fry of CBRE represented ownership in the transaction. The 10-year loan was provided by a correspondent life insurance company.
Located at 19905-19925 Biscayne Blvd., the retail center is anchored by Total Wine & More and Stein Mart. The fully-occupied center was built in 1994 and expanded in 2015. Additional tenants include Chili’s, Roche Bobois, Great Expressions Dental, Raw Juice Aventura.
“The refinance took place entirely during the pandemic, which has presented several challenges for retail,” said Paul Ahmed. “However, the property’s premium location and low leverage loan request contributed to a successful closing.”
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