Financing

Terranova pursues the best financing terms for its clients, enabling them to achieve acquisition goals, reduce borrowing costs and unlock equity on investments.

Terranova has closed over $1 billion in debt and equity placements involving retail, apartment, office, mini-warehouse, mobile home parks, hotel and industrial projects nationwide. Recent financing activities include a new $17 million first mortgage to refinance El Mercado, a 96,041 square foot center in Hialeah. The Publix-anchored property was purchased originally in 1991 for $7.6 million.

Terranova's financing activity includes:

• $14 million refinancing of Palm Plaza, a 96,041 square foot center in Northwest Miami-Dade county, anchored by Navarro Discount Pharmacy.
• $17 million first mortgage to refinance El Mercado, a 96,041 square foot center in Hialeah.
• $10 million first mortgage financing arranged for Suniland Shopping Center in Pinecrest, Florida.
• $12.3 million financing arranged for Concord Shopping Plaza in Miami, Florida.
• $10 million permanent financing arranged for Royal Palm Plaza, a 174,500 square foot shopping center in Boca Raton, Florida.
• $17 million permanent financing arranged for Suniland Shopping Center.