Terranova Announces $55M Refi Of Miracle Mile Portfolio
This loan closing marks Terranova’s ninth capital markets transaction of the year.
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This loan closing marks Terranova’s ninth capital markets transaction of the year.
The project consists of 90 rental apartments and 9,642 square feet of ground floor retail.
Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord, Colonnade Properties, in the lease negotiations.
Echelon Fitness is set to occupy 10,035 square feet.
The asset consists of 75,406 square feet of upscale retail and 45,068 square feet of office space.
The sale price equates to $221,250 per unit.
Lee & Associates South Florida President Matthew Rotolante and Vice President Conner Milford represented tenants in the deals.
The new-to-market financial tenant brings the building to 96% leased.
This site is composed of a 5,206-square-foot single tenant retail building sitting on a 46,494-square-foot lot.
The move will be catalyst to Chamber’s evolution, which will include a new identity package, enhanced programs, new website and more in the coming year.
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