MIAMI, FL - Aztec Group, Inc., Florida’s leading real estate investment and merchant banking firm for the past 33 years, announces that Jim Fried, Managing Director, and Jason Katz, Vice President, have secured a $12.65 million construction loan for a 105-unit multi-family development planned north of Downtown West Palm Beach.
The rental apartment project is under construction in Northwood, an emerging and trendy neighborhood adjacent to Currie Park. Aztec Group represented Parkland Companies headed by Neil Kozokoff, the developer of the 1.3-acre parcel located at 312 23rd Street.
“The developer’s long-standing commitment to Northwood as a property owner and placemaker were important factors in securing the construction financing that will bring this project to life,” said Jason Katz, Vice President at Aztec Group.
The loan facility was provided by City National Bank of Florida.
“This Northwood multi-family project is right-sized at 105 units and in line with the rental housing demand in this up-and-coming neighborhood. We are confident that Parkland Companies will deliver a successful project to the market,” concluded Jim Fried, Managing Director at Aztec Group.
Aztec Group, Inc.: Founded in 1981, Aztec Group, Inc. specializes in facilitating the acquisition, disposition, financing and capital needs of real estate projects for institutional investors, entrepreneurs and commercial developers as well as offshore clients. Aztec has long been recognized as the premier real estate capital markets intermediary and merchant banking firm in the Southeast, handling over $10 billion in transactions during the past decade. The company is also considered an innovator, often seeing opportunities for clients before they become apparent in the marketplace. For more information, visit www.aztecgroup.com