MMG refinances grocery-anchored retail center with $26.6M loan
JLL Capital Markets arranged the loan for Town and Country Plaza
MIAMI, Aug. 30, 2021 – JLL Capital Markets announced today that it arranged a $26.6 million refinancing for Town and Country Plaza, a 94,815-square-foot, 100-percent-occupied shopping center anchored by Sedano’s Supermarket and Navarro Discount Pharmacy in an infill location in Miami, Florida.
Town and Country Plaza is anchored by Sedano’s Supermarket, the largest independently owned Hispanic supermarket chain in the U.S., and is also home to a diverse mix of national and regional tenants, including Sherwin-Williams, Navarro Discount Pharmacy, Goodwill, Express Auto Care and Discount Auto Parts.
Situated on 8.2 acres at 13712 SW 152 St., Town and Country Plaza is at a signalized intersection at SW 152 Street and Lindgren Road, providing visibility to more than 40,000 vehicles per day.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Chris Drew, Managing Director Brian Gaswirth and Associate Reid Carleton.
“Debt capital continues to aggressively pursue assets in South Florida, and fortress retail is particularly attractive to lenders in today’s market as they seek to further diversify their portfolios,” Drew said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About MMG Equity Partners
MMG Equity Partners is a privately-owned investment company focused on the long-term ownership, development, and acquisition of commercial properties in Florida. MMG’s roots lie in retail, as each member of their executive team was instrumental in the growth and management of a successful $350 million drugstore chain, Navarro Pharmacy. Their current portfolio consists of over 2.5 million square feet across 40+ properties, primarily in South Florida.