Miami — Miami-based MMG Equity Partners has secured $38 million in refinancing for a four-property retail strip center portfolio located across Miami-Dade County in South Florida. The portfolio totals roughly 128,000 square feet and includes Pinecrest Center, Pinecrest Shoppes, Westlake Plaza and Naranja Plaza, which are all situated along South Dixie Highway or Bird Road. MMG originally purchased the properties between 2018 and 2020 for a combined $28.9 million.
Notable tenants within the retail portfolio include Key Foods Supermarket, Sergios Restaurant, Veterinary Emergency Group (VEG), Dollar General, O’Reilly Autoparts, Mister 01 Pizza, Estrella Insurance, Wingstop and Little Caesers Pizza. Synovus Bank provided the loan and JLL Capital Markets brokered the transaction.