Northtowne Square in Polk County sold for $15.5 million

Northtowne Square, a 96,009-square-foot shopping center in Lakeland, has been sold.

The buyer was a local private investor who bought the property through an LLC for $15.5 million. To help pay for the center, the couple behind the LLC took out a $6.5 million mortgage. The lender, according to county records, is Suncoast Federal Credit Union.

The loan is for 10 years at a 6.25% fixed interest rate with 30-years amortization and no prepayment penalty.