MIAMI-Owners of the 42,341-sf Babies ‘R Us building at 15625 North Kendall Dr. have received $5.375 million in permanent financing for the property.

Constructed in 1996, the single-tenant building is situated on 3.03 acres and stands alone as part of a larger shopping center. The fixed-rate loan, provided by a US-based lender, has a 10-year term. “The new permanent, fixed-rate loan was used to pay off the maturing original loan placed on the property shortly after it was constructed in 1996,” says Jason Shapiro, managing director of locally based Aztec Group. Shapiro represented the borrower.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.