RM Capital Arranges $20.9 Million First Mortgage Financing for Sawgrass Landings Shopping Center
New York, NY – RM Capital announced today they have arranged $20,900,000 of first mortgage CMBS financing for Sawgrass Landings, a 64,500 SF, Class A retail center located in the highly desirable submarket of Sunrise in Broward County, Florida. The financing was completed at an attractive spread, substantially reducing the owner’s borrowing costs and providing for a four-year interest only period. The center is owned by Trikon Sunrise, LLC, managed by Jon Samuel, and is anchored by LA Fitness and boasts other premier tenants including Starbucks and FedEx Office. The center is within the shadow of Sawgrass Mills Mall, one of the country’s best performing shopping malls.
“Sawgrass Landings is at the intersection of one of Florida’s most dynamic and rapidly expanding submarkets. RM Capital was able to demonstrate to the market that the property justified premium execution and the lender agreed,” Director Steven Weiss said.
Co-Managing Directors of RM Capital, Romano Tio and Marc Sznajderman, and Director Steven Weiss executed the transaction on behalf of Trikon Sunrise by delivering multiple competitive bids, allowing the borrower to achieve its objective of locking in 10-year fixed rate financing at a historically low rate.
RM Capital is a private real estate investment banking and merchant banking firm based in New York. The principals have extensive and diverse backgrounds including hedge fund, advisory and principal investment experience, and have acted as a principal or agent on transactions with a combined value of over $5 billion.