AEW Capital Management Purchases Shops At Beacon Lakes In Miami For $108M

The Shops at Beacon Lakes is a new, fully leased, 417,248-square-foot, large-scale, super-regional shopping center development located at 1700 NW 117th Pl, Miami, FL, 33182. The property was recently sold for $108 million with a financing of $43.5 million. The shopping center features a diverse roster of segment-leading national retailers and outparcel pads leased to various businesses. Situated on 33.82 acres, the Shops at Beacon Lakes is strategically positioned along the heavily trafficked Florida Turnpike, providing exceptional visibility to over 124,000 vehicles daily.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $108 million sale, $43.5 million financing
• Market: Miami
• Borrower's Rep: Paul Stasaitis (JLL)
• Lender: Fannie Mae

The transaction was facilitated by JLL Capital Markets, with the seller represented by a partnership led by Stiles Corporation and Lubert Adler Real Estate Funds. AEW Capital Management, L.P. acquired the property on behalf of a separate account client. JLL also acted on behalf of the buyer to secure a seven-year, interest-only acquisition loan through PGIM Real Estate. The Shops at Beacon Lakes stands as a premier retail destination in Miami-Dade due to its impressive tenant mix and prime location, attracting strong investor interest and highlighting the robust demand for high-quality retail assets in the market.