Finance

Panama City Beach, Fla. — Marcus & Millichap Capital Corp. has arranged $6.8 million in acquisition financing for Villages of Grand Panama, a 48,000-square-foot retail property located at 1105 Hutchinson Blvd. in Panama City Beach. Garrett Fierstein of Marcus & Millichap secured the 10-year, fixed-rate loan, which features a 70 percent loan-to-value ratio and an interest rate of 3.95 percent. The 19-tenant property sits on 5.1 acres of land and is occupied by an array of tenants including medical, real estate and professional services uses, as well as two restaurants.

Delray Beach, Fla. — Concord Summit Capital LLC has secured a $16 million refinancing for Bed Bath & Beyond Plaza, a shopping center in Delray Beach. Justin Neelis and Daniel Rojo of Concord sourced the non-recourse financing through Seven Hills Realty Trust on behalf of the borrower, Berta Management. The bridge loan will be used to construct a new Starbucks Coffee outparcel, provide for capital improvements and pay off existing debt. Bed Bath & Beyond Plaza was 86 percent leased at the time of financing to Bed Bath & Beyond, …

Jupiter, Fla. — Northmarq has secured $16.8 million in acquisition financing for Fresh Market Village, a 55,046-square-foot, grocery-anchored retail property in Jupiter, about 19 miles from Palm Beach. Daniel Karp of Northmarq arranged the financing, which included a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq secured the permanent, fixed-rate loan on behalf of the undisclosed borrower through its relationship with an unnamed life insurance company. Built in 1989 and last renovated in 2014, the property is anchored by The Fresh Market.