CBRE Negotiates $13 Million Loan for Refinancing of Publix-Anchored Shopping Center in Navarre, Florida

CBRE has negotiated a $12.9 million loan for the refinancing of Wynnehaven Plaza, a 64,995-sq.-ft., Publix-anchored shopping center in Navarre, Fla.

Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance represented the borrower, Atlanta-based Branch Properties, in the deal. The $12.9 million loan was secured through Indiana-based 40|86 Mortgage Capital.

“Despite the current headwinds being experienced in the capital markets, this deal proved once again that lenders have a real appetite for grocery-anchored retail with blue-chip sponsorship, like Branch,” said Mr. Henry, Senior Vice President with CBRE in Atlanta. “We ended up bringing a deep bench of attractive options to our client, and we’re happy to have connected them with a great partner in 40|86 Mortgage Capital.”

Located at 10040 Navarre Parkway, Wynnehaven Plaza was recently completed in 2023 and measures 64,995 sq. ft. Anchored by a 48,387-sq.-ft. Publix Super Market, the shopping center is fully occupied and is home to seven other tenants. They include a coffee shop, primary care clinic, ice cream parlor and nail salon.