MIAMI—Two multifamily properties in a Tampa submarket have won the confidence of investors. Plantation Key and Providence Park, both in Brandon, FL, have secured a $49.62 million acquisition and renovation loan.

Aztec Group, a Miami-based real estate investment and merchant banking firm, secured the loan. Aztec managing director Jason Shapiro and senior associate Sean Harrington worked on behalf of the borrower, an affiliate of Tampa-based Blue Rock Partners. Blue Rock owns and manages a growing portfolio of multifamily properties throughout Central Florida.

“I think what was most significant about this deal was the lender's ability to close very quickly on a large loan on an un-stabilized apartment portfolio with a sizeable renovation component,” Shapiro tells GlobeSt.com. “From beginning to end, the transaction took 60 days, and there was no additional time allowed given that it was an acquisition.”