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| 79th Avenue shops, 4701-4747 Northwest 79th Avenue, Downtown Doral, FL |
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| Cecily Nazario |
MIAMI, FL – HFF announced it has arranged $2 million in
acquisition financing for 79th Avenue
Shops, a 24,973-square-foot retail center located immediately east of Downtown Doral and the Doral White Course in
Doral, Florida.
HFF worked on behalf of the borrower, DTT Doral, 79 LLC, to
arrange the 15-year, fixed-rate loan through Ohio National Financial Services,
a life insurance company.
Renovated in 2008, 79th Avenue Shops is situated on 1.41 acres at
4701-4747 Northwest 79th Avenue in Doral and benefits from a dense, infill
location with excellent proximity to the Palmetto and Dolphin Expressways.
Located in the city
of Doral, a fast-growing community with a daytime employment population of more
than 150,000 workers and an above average household income of more than $89,000
for residents, the property boasts significant value-add potential as a result
of being well positioned in a 99 percent leased submarket, according to CoStar.
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| Jose Carrazana |
79th Avenue Shops is
84 percent leased to 7-Eleven, Annie’s Best Buy Liquors, Sushi Runner, AM
Realty, Taste of Style Catering, Electric Supply and S1 Security Group Inc.
The HFF debt placement team was led by associate director Jose Carrazana and real estate analyst Cecily Nazario. Nestor
Machado of Cawy Real Estate represented the buyer.
“The success of this loan placement was directly correlated
to numerous factors, including the borrower’s commercial real estate leasing
and management expertise as well as Doral’s rapid transformation into an
exciting, upscale, live-work-play destination,” Carrazana said.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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