Aztec Group Secures $18.6 Million for Shopping Center in Miami

by Scott Reid

Miami — Aztec Group Inc. has secured $18.6 million in financing for the shopping complex Sedano’s Plaza at Lakes on the Green in Miami.

Sedano’s Plaza at Lakes on the Green is a 129,000-square-foot center with a standalone three-story office building. The shopping center is anchored by a 37,000-square-foot Sedano’s Supermarket. The retail component and office outparcel were developed in 2006 and 2010, respectively. The property is currently 85 percent occupied, with tenants including Carrabba’s Italian Grill, Sherwin-Williams and Vicky Bakery.

Financing was provided by Starwood Mortgage Capital. Terms of the 10-year facility include a 75 percent loan-to-value ratio, a 30-year amortization schedule, several years of interest-only payments and a fixed interest rate.

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