HFF Arranges $58 Million Refinancing of Nine-Property Retail Portfolio in Miami-Dade County

The portfolio includes Navarro Sunny Isles in Sunny Isles Beach, Florida. The portfolio includes Navarro Sunny Isles in Sunny Isles Beach, Florida.

Miami — HFF has arranged the $58 million refinancing of a nine-property retail portfolio located throughout Miami-Dade County.

Chris Drew, Nat Scarmazzi and Matthew McCormack of HFF arranged the 10-year, fixed-rate loan through a life insurance company on behalf of the borrower, MMG Equity Partners. The portfolio, which totals 275,979 square feet, includes Sunset Village Shopping Center, Bird West Plaza, Flagler Plaza, Navarro Gables, Little River Retail and Kendall Drive Retail in Miami; Navarro Miami Beach in Miami Beach; Colonial Shopping Center in North Miami; and Navarro Sunny Isles in Sunny Isles Beach. Navarro Pharmacy anchors six of the properties, and President Supermarkets anchors two. The portfolio also includes one strip center. At the time of sale, the portfolio was 97 percent occupied.

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