A grocery-anchored shopping center located at 2104-2184 Tamiami Trail North in Naples, FL has been acquired by Fareri Associates. The property spans 64,877 square feet and is situated in an affluent market. The acquisition was made possible through a $18,000,000 loan provided by BNY Mellon.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $18,000,000
• Address: 2104-2184 Tamiami Trail North, Naples, FL
• Market: Naples
• Loan Type: Acquisition
• Lender: BNY Mellon
• Landlord: Fareri Associates
• Landlord's Representative: Steven Sperandio, Michael Fasano, Jake Weiss, and Brice Shafer from Ripco

RIPCO's Head of Debt & Structured Finance, Steven Sperandio, along with his team, facilitated the $18,000,000 loan for Fareri Associates. This loan supports the acquisition of the grocery-anchored shopping center in Naples, FL. Fareri Associates, the landlord, has a significant real estate portfolio with assets valued at approximately $1.5 billion and 5 million square feet across Connecticut, New York, and Florida. The loan is part of Fareri Associates' strategic plan to expand its footprint in Florida.