MIAMI GARDENS, FLA. — The owners of Palmetto Gardens Plaza, a planned 63,000-square-foot retail center located at 3799 N.W. 167th St. in Miami Gardens, have avoided the property’s foreclosure by reaching a settlement with lender PNC Bank. The owners have since secured a new $4.5 million loan with Hudson Financial Services and signed a 41,000-square-foot lease with Walmart to have a Neighborhood Market Store anchor the property. David Larson of Newmark Grubb Knight Frank secured the financing from Hudson Financial Services. Richard Schermer of Pathman Lewis LLP served as legal counsel during the lease negotiations and assisted in the final closing of the loan. Ravi Batta of Rosenfeld Stein Batta PA and The Law Firm of Michael L Feinstein PA represented the owners during the litigation and final settlement negotiations with PNC Bank.
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