Viera Village Shopping Center
The transaction includes a $10,500,000 ($136.72/SF) non-recourse, first mortgage loan secured by a 76,800 SF, Winn-Dixie anchored neighborhood center, Viera Village Shopping Center, located in Rockledge, FL. The main shopping center was originally constructed in 2000 on a 11.22-acre land and Heartland Dental outparcel was constructed in 2019 on a 1.10-acre land and renovated in 2021. The property consists of two, one-story apartment buildings. As of July 2021, the Subject is 90.2% leased with the largest tenant, Winn-Dixie, representing 57.1% of the NRA. The proposed loan will be used to refinance existing debt at the property. The loan is structured with a 10-year term and amortizes on a 30-year schedule.