MMG Equity Partners Secures $38 MIllion Refi For Four South Florida Retail Centers
The four properties total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28,900,000.
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The four properties total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28,900,000.
Spanning 509,447 square feet on approximately 12 acres, The HueHub will feature seven striking 35-story towers comprised of 4,032 thoughtfully designed and furnished residential units.
While working through the sale and due diligence period, Milopoulos secured a full-building tenant, East Coast Cabinetry, with the assistance of the tenant’s broker Richard D. Abraham, CCIM, SIOR, Broker-President with Abraham & Associates.
This deal marks one of the largest user purchases in recent history.
The portfolio was 91% occupied at the time of sale with 21 tenants.
Firm CEO Jaime Sturgis and COO Kaley Tuning represented the seller in the $5 million transaction, which equates to $650 per square foot.
The project replaces a formerly underutilized office property and aligns with the City of Fort Lauderdale’s long-term vision for Uptown Urban Village, which is aimed at bringing more residences and mixed-use development to the area near the Cypress Creek Tri-Rail Station and Fort Lauderdale Executive Airport.
Drew Kristol and Kirk Olson exclusively marketed the property on behalf of the seller.
The development team plans to transform the site into a modern, Class-A industrial campus featuring two warehouse buildings totaling approximately 182,000 square feet.
Completed in 2024 at 1765 N. Miami Avenue, Wynwood Haus is a 20-story property located at the entrance of Wynwood and offers studios, one- and two bedroom-units, along with 6,824 square feet of ground floor retail.
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