Corinthian Capital LLC Acquires Promenades Port Charlotte Retail Center For $23.5M With Intercredit Bank

The retail property located at 3280 Tamiami Trail in Port Charlotte, Florida spans 26.4 acres. It was recently acquired by Corinthian Capital, LLC for a total sale price of $23,500,000. The property is anchored by ALDI and had an occupancy rate of 79.5% at the time of sale. Financing for the acquisition was provided by Intercredit Bank, which extended $18,425,000 in acquisition financing.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $23,500,000
• Buyer: Corinthian Capital, LLC
• Lender: Intercredit Bank
• Mortgage Brokers: Danny Finkle, Jorge Portela, Kim Flores, Jacob Wise, Kenny Cutler & Paul Adams - JLL
• Asset Size: 26.4 acres
• Market: Port Charlotte, FL
• Occupancy Rate at Sale: 79.5%

The seller was represented by JLL, which also facilitated the financing arrangement for the transaction. The deal involved multiple brokers, highlighting the collaborative effort to position the property in the market. The acquisition reflects the growing investor interest in grocery-anchored retail centers in the region.