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Galium Capital has bought the 77,621-square-foot Palm Square retail center in Pembroke Pines, Fla., for $20.48 million, or about $263.85/sf. The property is 96 percent occupied.
MetLife provided $36.1 million of financing to the buyer.
Citi Real Estate Funding provided an $11.8 million mortgage to the buyer.
92.7 percent occupied. The buyer used $23.43 million of acquisition financing from SunTrust Bank.
98.6 percent leased.
The property, which opened in 2014, is encumbered by $55.8 million of debt held by Wells Fargo Bank and matures in 2025.
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