FM Capital Originates $21M Loan to Refinance Cold-Storage Warehouse in Miami
MIAMI — FM Capital has provided a $21 million refinancing loan for a cold-storage warehouse in Miami. The 235,758-square-foot warehouse was originally built in 1968 and is located near I-95 with access to the Florida Turnpike. The property was 82 percent leased at the time of the refinancing to South East Frozen Foods and Super Value. The undisclosed borrower will also invest $1.1 million in capital improvements with the option of selling the asset or refinancing within the loan term.