MIAMI—Shorecrest Manor Apartments just secured $6.55 million in debt financing. Although the deal isn't large, it speaks volumes about the state of multifamily financing in Miami.
Aztec Group arranged the loan. Aztec managing director Boaz Ashbel, senior managing director Howard Taft, and director Charles Penan, had hands on the deal.
Located at 716 Northeast 85th Street in Miami's Shorecrest neighborhood, just north of the popular MiMo Historic District, Shorecrest Manor Apartments has 60 multifamily units in two five-story buildings. Barrington Heritage developed the multifamily asset in 2014.
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