Jones Lang LaSalle Incorporated : MMG refinances grocery-anchored retail center with $26.6M loan

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.

JLL worked on behalf of the borrower, Miami-based MMG Equity Partners, to place the 11-year, full-term interest only loan with The Guardian Life Insurance Company of America.

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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