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Florida & Gulf Coast  + South Florida  + Retail  |  July 9, 2020
David Cohen
By: David Cohen

CBRE Secures $7M Refinancing for Aventura Retail Center

CBRE has secured a $7 million loan to refinance a 78,486-square-foot retail center in Aventura. Paul Ahmed and Mackenzie Fry of CBRE represented ownership in the transaction. The 10-year loan was provided by a correspondent life insurance company.

Located at 19905-19925 Biscayne Blvd., the retail center is anchored by Total Wine & More and Stein Mart. The fully-occupied center was built in 1994 and expanded in 2015. Additional tenants include Chili’s, Roche Bobois, Great Expressions Dental, Raw Juice Aventura.

“The refinance took place entirely during the pandemic, which has presented several challenges for retail,” said Paul Ahmed. “However, the property’s premium location and low leverage loan request contributed to a successful closing.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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