Miami — HFF has arranged a $20 million senior loan for the refinancing of Vista Shopping Center, an 88,699-square-foot retail center located in the Miami Lakes neighborhood of Miami.
Chris Drew and Jose Carrazana of HFF worked on behalf of the borrower, an affiliate of Saglo Development Corp., to place the 10-year, fixed-rate loan with TD Bank N.A. Loan proceeds were used to retire the existing mortgage and make capital improvements to the property.
Vista Shopping Center is home to anchors Sedano’s Supermarket and Navarro Pharmacy, as well as national and regional in-line tenants, including Catherine’s Fashions, Chipotle Mexican Grill, Clippers, Wing Stop, LA Nails, Bridgestone and Miral Jewelry. Additional outparcel pad tenants of the 97 percent leased center include Jiffy Lube, Checkers and La Brasa Miami Gardens.