AZTEC ARRANGES ACQUISITION DEBT, JV EQUITY FOR FLORIDA CONDO PROJECT

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HOLLY HILL, FLA. — Aztec Group has secured $45 million in acquisition financing and joint venture equity for the remaining 414 condominium units at Marina Grande on the Halifax. Marina Grande on the Halifax offers 486 units in twin 243-unit high-rise towers. The borrowers were The Swerdlow Group and Glenmont Capital Management. The non-recourse, first mortgage was funded by a New York-based lender. Additionally, Aztec secured an equity investment from a private equity fund. Ezra Katz, Howard Taft and Charles Penan of Aztec arranged the financing.

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