MMG Equity Partners Secures $38 Million Refinancing of Miami In-Fill Retail Portfolio
Miami, FL – July 24, 2025 – MMG Equity Partners (MMG), a Miami-based real estate investment firm, today announced that it has completed a $38 million refinancing of its Miami In-Fill Retail Portfolio, consisting of Pinecrest Center, Westlake Plaza, Naranja Plaza, and Pinecrest Shoppes. The four-property portfolio comprises urban infill retail centers in Miami-Dade County and is now fully stabilized and performing at a high level following a successful value-add program.
JLL Capital Markets arranged the refinancing on behalf of MMG, with Senior Managing Directors Chris Drew and Brian Gaswirth leading the team. Synovus Bank served as the lender, providing a 10-year, $38 million senior mortgage loan structured as four cross- collateralized notes. The new financing allows MMG to recapitalize the portfolio and monetize the significant gains achieved through recent leasing and property improvements.
The four retail centers were acquired by MMG between April 2018 and January 2020 for a combined purchase price of approximately $28.9 million. Since acquisition, MMG has invested over $7.9 million in capital improvements to renovate and modernize the properties. These efforts, coupled with a targeted re-tenanting and repositioning strategy, have resulted in a 155% increase in portfolio net operating income (NOI). The refinancing was structured to unlock the value created through these repositioning and stabilization initiatives, allowing MMG to benefit from the substantial growth in income and occupancy.
As a result of the value-add program, the combined portfolio is now 100% leased, anchored by a diverse mix of service-oriented, e-commerce-resistant tenants that drive consistent foot traffic.
“The substantial value created through our remodeling and leasing efforts is a testament to the expertise and execution of our team of our value-add retail strategy. We remain active acquirers and long-term holders of well-located South Florida retail.” said Gabriel
Navarro, Managing Partner of MMG Equity Partners.
Media Contact:
Jen Becker
Phone: (786) 972-4857 | Email: JBecker@bkr-media.com
About MMG Equity Partners
MMG Equity Partners is a privately owned real estate investment company based in Miami, Florida, focused on the long-term ownership, development, and acquisition of commercial properties in Florida. The firm’s roots are in the retail sector, and it currently operates a portfolio of over 40 properties totaling approximately 2 million square feet, primarily in South Florida. Leveraging decades of local market experience and a tenant-centric approach, MMG has built a strong track record of creating value in retail real estate.
Sources: MMG Equity Partners, JLL Capital Markets, REBusinessOnline, Company
Data.
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