LOAN ARRANGED FOR 120,390-SQUARE-FOOT FLORIDA STRIP CENTER

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LAUDERHILL, FLA. — 440 University LP has borrowed $3.4 million in financing from a regional bank for its 120,390-square-foot Promenade at Inverrary. The un-anchored strip center, which is 78 percent leased, is located at 4400 University Dr. in Lauderhill. The 3-year loan carries a 6.95 percent interest rate and a 25-year amortization schedule. Joseph Hepp of Delray Beach, Fla.-based Dockerty Romer & Co. secured the loan.

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