Gertz Builders and Developers has secured a $16 million construction loan for the development of The Pointe at Kendall Town Center. The 53,185 sqf retail center is located at the southwest corner of North Kendall Drive (Southwest 88th Street) and Southwest 162nd Avenue in West Kendall. The project will feature seven single-tenant buildings, ranging in size from 3,200 sqf to 7,200 sqf, and a multi-tenant building totaling 14,000 sqf. CBRE Capital Markets’ Debt & Structured Finance team sourced the funding for the borrower through Branch Banking and Trust Company.
“The Kendall retail submarket is thriving with a 97 percent occupancy rate,” said Amy Julian, vice president, CBRE Debt & Structured Finance. “The Pointe at Kendall Town Center has completed remarkable pre-leasing and has a tremendous interest list for the project. With BB&T’s loan in place, the sponsor is excited to kick off this project and bring new restaurant and retail amenities to this thriving community.”
