MIAMI—Coral Ridge Mall, a retail center in Fort Lauderdale, FL, has secured a significant loan. Berkadia senior managing director Joseph Schrage of the Miami office secured a $50 million, 10-year, fixed-rate loan.
J.P. Morgan provided the financing. Schrage originated the loan, which includes a 30-year amortization schedule, for property manager Gumberg Asset Management.
“We have worked with this client for 15 years and have secured more than $170 million in financing for them during that time,” says Schrage. “We are pleased they decided to return to us for this transaction and look forward to partnering with them for years to come.”
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