Records show Terra City Center MF secured the loan from Mack Real Estate Group for the recently completed Pines Garden at City Center, a 387-unit luxury rental complex at 10400 Southwest City Center Boulevard.
The debt replaces a $56.7 million construction loan from Florida Community Bank, which closed in December 2017.
Pines Garden is part of Pines City Center, a 47-acre master-planned community. Retail tenants include Publix, Cooper’s Hawk, Outback Steakhouse, West Marine, BurgerFi, Smoothie King, Bento Café, Halal Guys, and UFC Gym, according to a spokesperson.
Late last year, Terra sold the first phase, nearly 150,000 square feet of retail space at the southwest corner of Pines Boulevard and Palm Avenue, to TA Realty for $80 million.
Terra has another 150,000 square feet of retail, entertainment and restaurant space next to Pines City Center.
The mixed-use project is directly next to a $60 million civic center with a 3,500-square-foot performing arts center and conference hall, an outdoor plaza, a 10,000-square-foot art gallery and a new city hall for Pembroke Pines.