Spring Hill Walgreens Gets $3M Non-Recourse Loan

MIAMI—A Walgreens Pharmacy in a Tampa suburb has secured $3 million in debt financing. Bank United funded the deal, which offered a fixed rate and line of credit facility.   Aztec Group secured the financing for the Walgreens, which located at 4096 Mariner Blvd. in Spring Hill, FL. Howard Taft, senior managing director and Charles Penan, director at Aztec Group, led the transaction.

The loan structure included a fixed rate and line of credit facility. Terms of the 10-year, non-recourse facility includes a 50% loan-to-value, 25-year amortization schedule, and floating interest rate.