The owner of the Somerset Shoppes in Boca Raton obtained a $42 million refinancing of a CMBS loan, and in Miami-Dade County, the owner of 70 residential condominiums and nine commercial units obtained a $20.4 million refinancing of an existing credit facility.
August 15, 2012 at 12:00 AM
1 minute read
In an encouraging sign for South Florida property owners with maturing commercial mortgage-backed securities debt, the owner of the Somerset Shoppes in Boca Raton obtained a $42 million refinancing of a CMBS loan secured by the retail center.
New York-based Somerset Shoppes FLA LLC, which is managed by Kirk Roberts, on Aug. 2 received the refinancing, with New York-based Ladder Capital Finance LLC acting as the conduit for the CMBS loan.
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