Aztec Group Arranges $28.25 Million In Construction Financing

Aztec Group announced that Sean Harrington, Managing Director, has arranged $28.25 million in construction financing for The Square at Lotis Wellington in Wellington.

The Square at Lotis Wellington will consist of a mixed-use retail and office, restaurant outparcels, a daycare and early learning center, as well as a 3-level parking garage.

Early last year, Aztec Group also arranged $49 million in bridge and acquisition financing for Lotis Wellington, a to-be-built 372 luxury multifamily units and retail that is preleased to a variety of national and regional tenants. Completion of Lotis Wellington is scheduled for Q2 2005.

Lotis is the developer of The Square at Lotis Wellington. Lotis engaged Aztec Group on an exclusive basis to source financing for the property. The $28.25 million construction financing was Aztec Group’s eighth exclusive financing assignment with Lotis. The financing opportunity of The Square at Lotis Wellington was awarded to Amerant Bank.

“Sourcing any financing in the current market conditions requires a diligently run process. Aztec Group ran its investment banking process and facilitated several proposals for financing. The Square at Lotis Wellington, working with Lotis to select the best lender and proposal. Aztec delivered an execution that is a testament to the merit of the sponsorship, the lender, and Aztec Groups mortgage brokerage platform.” said Harrington, Managing Director of Aztec Group.

Aztec’s team closed several other financings over the last year including the $30 million for 25 Mirage in Miami, $35.5 million in financing for Crossings Village in Miami, $55.6 million for Arcadia Gardens in Palm Beach Gardens, $54.5 million for Alloro at University Groves in Sarasota and $95 million for Tamarac Village.