{"id":1004202994,"date":"2018-01-09T07:56:38","date_gmt":"2018-01-09T15:56:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202994"},"modified":"2022-12-09T02:15:41","modified_gmt":"2022-12-09T10:15:41","slug":"miami-area-retail-asset-lands-25m-acquisition-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-area-retail-asset-lands-25m-acquisition-loan\/","title":{"rendered":"Miami-Area Retail Asset Lands $25M Acquisition Loan"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004202995\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202995\" data-attachment-id=\"1004202995\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/miami-area-retail-asset-lands-25m-acquisition-loan\/old-cutler-town-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg\" data-orig-size=\"2318,1739\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;9&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS-1DS&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1141125749&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;21&quot;,&quot;iso&quot;:&quot;125&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Old Cutler Town Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Old Cutler Town Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?w=1024\" class=\"wp-image-1004202995 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg\" alt=\"Old Cutler Town Center\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg 2318w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=2048,1536 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=150,113 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=696,522 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=1068,801 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=1920,1440 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=560,420 560w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=80,60 80w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Old-Cutler-Town-Center.jpg?resize=265,198 265w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202995\" class=\"wp-caption-text\">Old Cutler Town Center<\/p><\/div>\n<p>Aztec Group has secured $24.5 million in acquisition financing for the purchase of Old Cutler Town Center, a 106,500-square-foot shopping center in Cutler Bay, Fla. The company represented the borrower acquiring the retail property in a $31.5 million deal. Florida Community Bank provided the long-term, non-recourse mortgage that includes a fixed rate.<\/p>\n<h2>Publix-anchored asset<\/h2>\n<p>Located at 20405 Old Cutler Road, the commercial center is anchored by a 42,000-square-foot Publix Super Market. The property is the only grocery-anchored shopping center situated along Old Cutler Road. Publix was one of Old Cutler Town Center\u2019s first tenants when the property was developed in 1987. Other notable tenants include GNC, Ace Hardware, Florida Oncology, La Colonial Medical Center and Subway.<\/p>\n<p>Managing Director Jason Shapiro and Director Sean Harrington were on the team that facilitated the transaction. According to public records, the shopping center previously changed hands in 2010, when TA Associates Realty acquired it for $21.2 million.<\/p>\n<p><em>\u201cOld Cutler Town Center is really a \u2018fortress\u2019 neighborhood center, which is what made it so attractive for acquisition,\u201d<\/em> Shapiro said in prepared remarks. <em>\u201cDue to the strength of this commercial asset, we were able to secure very aggressive acquisition financing terms.\u201d<\/em><\/p>\n<p>In December 2017, Aztec Group arranged\u00a0$6.7 million in financing for Holiday Centre, a 67,360-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/aztec-group-secures-financing-for-67-ksf-retail-center\/\">shopping center outside of Tampa<\/a>, Fla. BankUnited provided the seven-year, fixed-rate mortgage.<\/p>\n<p><em>Image courtesy of Aztec Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Aztec Group team of Jason Shapiro and Sean Harrington worked on behalf of the borrower acquiring the shopping center for $31.5 million.<\/p>\n","protected":false},"author":240,"featured_media":1004202995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1492,21742,21749],"tags":[34272,38357,32795,33964,38048],"class_list":["post-1004202994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-miami","category-latest","category-retail","tag-aztec-group-inc","tag-bankunited","tag-florida-community-bank","tag-publix","tag-ta-associates-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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