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Terra secured $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana. 

JVP Management has issued a $187 million loan for the development’s multifamily residential component, and Hudson Bay Capital issued a $104 million loan for the retail component. The two loans will pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies.