Aztec Group Secures $7.6M Refinancing for South Florida Shopping Center Leased to Aldi, 7-Eleven
DANIA BEACH, FLA. — Aztec Group Inc. has arranged a $7.6 million loan for the refinancing of Stirling Square, a 25,515-square-foot shopping center located in Dania Beach.
Located at 700 Stirling Road, Stirling Square is ground-leased to Aldi and 7-Eleven. The 22,000-square-foot Aldi was built in 2018, and the 3,515-square-foot 7-Eleven will be completed in May. The 4.1-acre property is situated at the northwest corner of Stirling and Phippen Waiters roads.
Howard Taft and Joel Zusman of Aztec Group originated the financing through an unnamed life insurance company based in Idaho on behalf of the borrower, an affiliate of Salzman Real Estate Advisors. The 15-year loan featured a fixed interest rate below 3.8 percent and was structured at 60 percent loan-to-value.