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Brookwood Financial Partners Acquires Melbourne Shopping Center For $14.3M

Property Image
SOLD
$14,300,000
Jorge Portela
Eric Williams
Danny Finkle
+ 3

Florida

See Similar Deals
Retail
Sold 12/20/2023
the dealplayerscompscontact
Property Image
SOLD

Brookwood Financial Partners Acquires Melbourne Shopping Center For $14.3M

1301 South Babcock Street

See Similar Deals
Retail
Sold 12/20/2023
Jorge Portela
Eric Williams
Danny Finkle
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

Brookwood Financial Partners, represented by Thomas N. Trkla, has acquired the Melbourne Shopping Center in Melbourne, Florida for $14.3 million from Site Centers Corp, represented by David Lukes. The retail property, spanning 211,000 square feet, is anchored by Publix Super Market and features a 92.4% lease rate. It includes tenants such as Big Lots, Bealls Outlet, Dollar Tree, and Pizza Hut.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $14,300,000
  • Address: 1301 South Babcock Street, Melbourne, Florida
  • Market: Melbourne

The deal was facilitated by JLL, with Danny Finkle, Eric Williams, and Jorge Portela representing Brookwood Financial Partners as brokers, and Andrew Gray and Ryan Parker representing them as mortgage brokers. The financing for the acquisition was provided by Berkshire Bank through a $15.8 million loan arranged by JLL Capital Markets.

Players

Danny Finkle
JLL
Danny Finkle
57 deals$3.9B volume
BROKER
Andrew Gray
JLL
Andrew Gray
6 deals$779.1M volume
BROKER
Eric Williams
Newmark
Eric Williams
52 deals$2.8B volume
BROKER
Jorge Portela
JLL
Jorge Portela
23 deals$1.6B volume
BROKER
Ryan Parker
JLL
Ryan Parker
4 deals$124.3M volume(617) 848-5867
BROKER
BL
Brookwood Financial Partners, LLC
BUYER
Berkshire Bank
Berkshire Bank
LENDER

Details

SOLD
IMAGE: Jorge Portela, David Lukes, Danny Finkle, Thomas N. Trkla, Eric Williams, Ryan Parker & Andrew Gray DATE: 12/20/2023 ADDRESS: 1301 South Babcock Street MARKET: Melbourne ASSET TYPE: Retail BUYER: Brookwood Financial Partners - Thomas N. Trkla SELLER: Site Centers Corp - David Lukes BROKERS: Danny Finkle, Eric Williams & Jorge Portela - JLL (@JLL) LENDER: Berkshire Bank (@BerkshireBank) MORTGAGE BROKERS: Andrew Gray & Ryan Parker - JLL SALE PRICE: $14,300,000 NOTE: Brookwood Financial Partners has purchased the 211,000-square-foot Melbourne Shopping Center in Melbourne, Florida, for $14.3 million from Site Centers Corp. The acquisition, financed by a $15.8 million loan from Berkshire Bank arranged by JLL Capital Markets, includes a renovated retail property anchored by Publix Super Market with a 92.4% lease rate, featuring tenants such as Big Lots, Bealls Outlet, Dollar Tree, and Pizza Hut.

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Debt Service Coverage Ratio (DSCR)

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