MIAMI—Sunset Strip Plaza is putting a period on a capital markets point: location, tenant mix, and strong ownership are key considerations for lenders bidding on retail loans. The Kendall shopping center just secured an $11.2 million first mortgage from a Florida-based bank.
Aztec Group senior managing director Howard Taft and director Charles Penan, secured the loan on behalf of ownership. Built in 1984, the retail property underwent a renovation in 2006 to improve its curb appeal and tenant mix.
“This is the latest example of high quality assets in desirable markets securing sound financing,” says Taft. Sunset Strip Plaza is an 81,775-square-foot retail center located at 10855 Southwest 72nd Street, Miami's Kendal submarket.
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