For owners of retail properties with stable tenant rolls, the climate is still right for permanent financing on historically strong terms despite interest rate uncertainty, Aztec Group director Sean Harrington tells us. "High-quality, income-generating properties backed by stable owners are ripe for favorable financing terms,” he says.
Recently Sean, along with colleague Jason Shapiro, secured more than $18M in financing for the shopping complex Sedano’s Plaza at Lakes on the Green in Miami. The retail component and office outparcel were developed in 2006 and 2010, respectively, and the property is currently 85% occupied. It will likely exceed 95% occupancy this year, Jason adds, with tenants including Carrabba's Italian Grill, Sherwin-Williams and Vicky Bakery.
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