{"id":1004232908,"date":"2018-05-31T08:07:44","date_gmt":"2018-05-31T16:07:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004232908"},"modified":"2022-12-08T10:12:02","modified_gmt":"2022-12-08T18:12:02","slug":"aztec-group-arranges-6m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aztec-group-arranges-6m-financing\/","title":{"rendered":"Aztec Group Arranges $6M Financing"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004232910\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004232910\" data-attachment-id=\"1004232910\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/aztec-group-arranges-6m-financing\/westshore-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Karina Castano&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1527601725&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Westshore Center, Tampa\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg?w=800\" class=\"wp-image-1004232910\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Westshore-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004232910\" class=\"wp-caption-text\">Westshore Center, Tampa, Fla.&nbsp;<\/p><\/div>\n<p>Aztec Group Inc. has arranged $5.9 million in financing for the acquisition of Westshore Center, a 77,000-square-foot office building in Tampa, Fla. The company secured the seven-year fixed rate loan through BankUnited. Reo Center Tampa LLC purchased the property for a total of $9.5 million, from TA Associates Realty, in an off-market transaction, according to Yardi Matrix.<\/p>\n<p>Located at 405 N. Reo St., the asset occupies 4.2 acres near Interstate 275, which connects to St. Petersburg. Additionally, downtown Tampa is situated roughly six miles from the building. Constructed in 1981, the three-story office building offers 25,000-square-foot floor plates and an on-site caf\u00e9. The borrower aims to invest additional capital to renovate and reposition the property.&nbsp;<\/p>\n<p><em>\u201cThe office building\u2019s current occupancy is well-below market, while the Westshore submarket\u2019s current occupancy is in the mid-90 percent range,\u201d<\/em> said Sean Harrington, director at Aztec Group, in a prepared statement. <em>\u201cThe borrower seized an opportunity to stabilize an existing property that will help meet the growing demand for quality office space in Westshore.\u201d<\/em><\/p>\n<p>In January, Aztec Group negotiated <a href=\"https:\/\/www.commercialsearch.com\/news\/tampa-office-asset-receives-acquisition-loan\/\">$8 million in acquisition financing<\/a> for a 132,981-square-foot office building, also in Tampa.&nbsp;<\/p>\n<p><em>Image courtesy of Aztec Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company secured a seven-year fixed rate loan through BankUnited, on behalf of Reo Center Tampa LLC, for the acquisition of the Westshore Center office building in Tampa.<\/p>\n","protected":false},"author":871,"featured_media":1004232910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,1612],"tags":[34272,38357,38048],"class_list":["post-1004232908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-tampa","tag-aztec-group-inc","tag-bankunited","tag-ta-associates-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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