MMG Equity Partners Secures $38 MIllion Refi For Four South Florida Retail Centers

MMG Equity Partners has secured $38 million in refinancing for a four-property, unanchored retail strip center portfolio located across Miami-Dade County.

Synovus Bank provided the loan and JLL Capital Markets brokered the transaction.

The loan closed July 22.

The portfolio includes Pinecrest Center and Pinecrest Shoppes in Pinecrest, Westlake Plaza in Westchester, and Naranja Plaza in Homestead.

The four properties total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28,900,000.

The properties are recently stabilized, income-producing assets that have undergone nearly $8,000,000 worth of capital improvements under MMG’s ownership.

Notable tenants within the portfolio include Key Foods Supermarket, Sergios Restaurant, Veterinary Emergency Group, Dollar General, O’Reilly Autoparts, Mister 01 Pizza, Estrella Insurance, Wingstop, Little Ceasars, and others. All of the properties have significant frontage and are located along South Dixie Highway or Bird Road, both of which are major thoroughfares within Southwest Miami Dade County and some of Miami’s busiest retail corridors.

“This refinancing is a testament to the strength of our assets, the success of our value-add strategies, and the credibility we’ve built as a team,” said Marcos Puente, Partner at MMG. “We thank Synovus for their support and Rick Ortiz for being a long-standing and valued financial partner. We also appreciate the team at JLL for their guidance in structuring a deal that positions us for continued growth.”

MMG focuses on acquiring repositioning and managing retail and mixed-use properties across South Florida. The firm continues to pursue value-add opportunities in high-growth neighborhoods.