Search
 
Features

Terra Secures Retail Loan Amid Economic Uncertainty

“Real estate companies whose assets have appreciated in value now have an opportunity to refinance loans, and that lending activity will help fuel the capital markets for the time being.”

By John McCurry | March 23, 2020 at 09:26 AM
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.

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?

NOT FOR REPRINT

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

Recommended Stories

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

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