PMAT Real Estate Investments obtained $14.6 million for its $17.2-million acquisition of 137,259-sf Flamingo Market Place in Pembroke Pines. Through its Milwaukee office, Birmingham, AL-based Collateral Mortgage Capital helped raise approximately $3.5 million in equity while also securing a first mortgage for PMAT. Greenwich Capital funded the debt portion of the transaction and Kimco Realty provided the preferred equity.

Collateral underwrote the transaction with an 80% loan-to-value ratio. The funding is for a 10-year term with five years' interest-only, and a 30-year amortization at an interest rate that Pat Dempsey, managing director, puts in the mid-5% range. "Both Greenwich Capital and Kimco responded quickly, quoted aggressively, and worked hard to make this transaction happen," he says. A Winn Dixie supermarket anchors the center, and the grocer's poor credit rating made the deal challenging, Dempsey says, but that concern "was mitigated by an outstanding real estate location."

The owners of One Sheridan Place, a two-story, 31,463-sf office building at 3990 Sheridan St. in Hollywood, obtained $3.9 million in refinancing. Joseph B. Schrage, SVP of the local office of GMAC Commercial Mortgage, arranged the loan from lender Delaware Investment Advisors. Schrage did not disclose the loan terms, but said, "We provided a competitive loan amount to the borrower," which is a repeat client of GMACCM and the lender.

Allapattah Partners, an affiliate of JM Partners Properties, obtained a construction loan of nearly $4 million to build a 13,824-sf free-standing CVS unit at the northeast corner of SW 248th St. and SW 112 Ave. in Miami-Dade County. Fort Lauderdale-based BankAtlantic's commercial lending group provided the financing at undisclosed terms.