The Orlando and Tampa offices of Houston-based LJ Melody & Co. brokered the loan which carries an interest rate under 7%, David Borge, director of Melody's Orlando office, tells GlobeSt.com. "The deal was done at this time because the borrower had a construction bridge loan coming due," Borge says. "The property was redeveloped a few years ago."
Seabreeze Associates has owned the 100%-leased property since it was developed in 1986. Publix anchors the center. Don Jennewein of Melody's Tampa office worked with Borge in arranging the financing.
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