Aztec Group, Inc. set up $27 million in financing for three separate South Florida shopping centers for a local retail investment company. The centers include a new retail project in Hialeah Gardens called Royal Gardens Plaza, a redevelopment of the Hollywood Fashion Mall and a shopping center in Tamarac.
The recently completed Royal Gardens Plaza is a 75,000 square foot shopping center that will be anchored by Aldi supermarket and Ross Dress for Less. According to Costar, the project was financed with a $12 million loan from a balance-sheet life insurance company in the mid-west. Other tenants include Dollar General, Discovery Clothing, America’s Best, and Pollo Tropical.
The investment group financed $11.53 million for the Hollywood Fashion Mall. The mall closed ten years and is in the final stages of demolition. The new development will be home to a 182,000 square foot Walmart Supercenter.
The third investment made by the group was financed with $3.8 million loan for the Tamarac Square West Shopping Center. The 120,000 square foot shopping center is home to Family Dollar, The Tire Choice and Dairy Queen. There is an additional end-cap parcel connected to the property that will be home to a 42,000 square foot Walmart Neighborhood Market.
