Pinecrest, FL – December 20th, 2021 – MMG Equity Partners has acquired 234-268 S University Drive & 120-150 S University Drive, a 6.18-acre site on the SE corner of South University Drive and Broward Boulevard in Plantation, FL. The property consists of 35,850 sf of retail space along University Drive, plus 19,680 sf of office suites tucked behind the shopping center.
MMG purchased the property for $17,100,000. Apollo Bank provided the buyer with a $4,900,000 acquisition loan.
Plantation community plaza is in Plantation’s midtown district. With all F&B and service-oriented tenants, rents 25-30% below market, and employment/population density quickly growing vertically within the immediate area, the property offers great long term value for MMG” – Marcos Puente, MMG’s Director of Acquisitions
More information is available at: https://plantationretail.com/
MMG has been an active buyer of South Florida real estate. In November 2021, MMG acquired Homestead Corner https://homesteadcorners.com. In May 2021, the company acquired Plantation Square Plaza http://plantationsquareplaza.com in Plantation, FL.
About MMG Equity Partners
MMG Equity Partners is a privately-owned real estate investment company focused on long-term ownership, management, development, and acquisitions of shopping centers in Florida. For more information about MMG Equity Partners, contact us directly.
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