MIAMI—As Wynwood continues heating up, lenders are placing bets on retailers there. Merchant banking firm Aztec Group just secured a $2 million acquisition loan for a retail property at 2301 North Miami Avenue in Miami.

Aztec represented the borrower, an affiliate of New York-based Atlas Real Estate Partners, in the transaction. US Century Bank provided the financing. Terms of the five-year, non-recourse loan include a 55% loan-to-cost and 4.25% fixed interest rate. Atlas also turned to Fundrise, a real estate crowdfunding platform, to raise money for a 13,000-square-foot mixed-use development in Wynwood.

“The property's prime location, conservative loan request and the borrower's proven track record enabled Aztec to arrange favorable financing terms that exceeded our client's expectations,” says Charles Penan, director of Aztec. “The property will be home to art galleries and design retailers, who will add to the neighborhood's rising art scene.”