BOCA RATON, FL-Selig Enterprises Inc. has refinanced a $12 million loan on the Palmetto Park Square retail center through Jefferson Pilot Life Insurance Co.

Although neither company disclosed details of the deal, officials in the Boca Raton office of Holliday Fenoglio Fowler confirm the Atlanta-based developer obtained a 20-year, fixed rate mortgage on the 192,187-sf site at 1279-1401 W. Palmetto Park Road. Holliday Fenoglio wouldn’t disclose the interest rate.

“What attracted Jefferson Pilot Life to this investment was Selig’s outstanding reputation, K-Mart’s recent renovation and expansion, and one of the top stores in the Publix supermarket chain,” Michael Kavanau, senior managing director of the Holliday Fenoglio Fowler office in Boca Raton, who brokered the deal, says in a prepared statement.

Besides its commercial real estate interests, the family owned Selig firm is publicly known for its involvement in philanthropic matters. The firm’s chairman, president and chief executive office, S. Stephen Selig III, also serves as the consul for Denmark’s Royal Danish Consulate in Atlanta.

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.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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.