Pines City Center Phase 2

PEMBROKE PINES, FL—Terra City Center Investments II, LLC – an entity of South Florida-based real estate development firm Terra – has closed on $45 million in financing from First Bank of Florida for the second phase of retail space within its Pines City Center development here. Located at the southwest corner of Pines Boulevard and Palm Avenue, Pines City Center is a 47-acre mixed-use development that includes a total of approximately 300,000 square feet of lifestyle-driven retail, entertainment and restaurant space alongside market-rate residential apartments.

Terra closed on the loan amid widespread economic uncertainty and a retail sector that has all but shut down.

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