Terra Nab Receives $ 44 Million Loan For Publix Retail Project In Pembroke Pines – Commercial Observer

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David Martinfrom Terra scored my second loan for 16000 Pine market, his shopping complex in Pembroke Pines, Florida, according to property records.

A $ 43.7 million loan was provided by a real estate investment firm. Torofar Capital – will finance the second phase of construction, which is expected to be completed in 2022.

Back in 2017, a company associated with Coral Gables based S&K Worldwide Realty granted a $ 48.8 million loan, property records show.

At anchor Publix supermarket, the mall will include 22,747 square feet Crunch fitness gym and 25,000 square feet Burlington Department store… 117,583 square feet retail project located at: 16000 Pines Boulevard, located in the heart of the suburb’s shopping area. BUT All products as well as Costco less than a mile.

“Terra’s continued investment in Pembroke Pines reflects the city’s growing population,” Terra CEO David Martin said in a prepared keynote.

Through Pembroke Pines Terra is developing another retail project, Downtown Pines, which is also in the second phase of construction.

Coconut Grove Terra is one of the most prolific developers in South Florida. According to the company, its portfolio includes 10 million square feet of residential, commercial and mixed-use developments worth more than $ 8 billion.

In March, the company received a huge $ 340 million loan for construction. Five park, residential tower in Miami Beach. Just last week, the company acquired a site on the Bay Harbor Islands for $ 31.5 million, because CO first reported

Real estate debt fund manager, Torofar Capital, specializes in issuing loans in the amount of 10 to 100 million dollars. Since its inception in 2010, it has grossed more than $ 2.8 billion across 31 states, according to the company.

Walker and Dunlopfrom Kate Kurland, Jackson Sastri as well as Ian Hawk arranged funding.

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