MMG Equity Partners Secures $38 Million Refinance Loan From Synovus Bank For Retail Portfolio

The asset involved is a four-property, unanchored retail strip center portfolio located across Miami-Dade County, including addresses 11975 South Dixie Highway, 11635 South Dixie Highway, 10905 Southwest 40th Street, and 27000 Dixie Highway. The total square footage of the portfolio is 127,826, with MMG Equity Partners having secured a refinancing loan amount of $38,000,000. The properties comprise Pinecrest Center, Pinecrest Shoppes, Westlake Plaza, and Naranja Plaza, which were purchased for a combined total of $28,900,000 between 2018 and 2020. They are income-producing assets that have seen nearly $8,000,000 in capital improvements under MMG's ownership.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $38,000,000
• Lender: Rick Ortiz - Synovus Bank
• Landlord: MMG Equity Partners
• Notable Tenants: Key Foods Supermarket, Sergios Restaurant, Veterinary Emergency Group, Dollar General, O’Reilly Autoparts, Mister 01 Pizza, Estrella Insurance, Wingstop, Little Ceasars
• Location: South Dixie Highway and Bird Road, Southwest Miami Dade County

This transaction involves key individuals such as Rick Ortiz from Synovus Bank, who provided the refinancing loan. The deal was brokered by JLL Capital Markets, emphasizing the collaborative effort among professionals in the real estate sector. MMG Equity Partners is recognized as a leading Miami-based real estate investment and development firm actively managing the portfolio.