The Real Deal Miami

Aztec Group closes $18 million loan for retail portfolio including Sunset Harbour Shops

November 29, 2012 01:30PM

Sunset Harbour Shops

Miami Beach’s Aztec Group has secured an $18 million loan on an eight-property portfolio that includes the Sunset Harbour Shops, the firm announced today. The properties are owned by Scott Robins and Philip Levine. Sunset Harbour Shops is the ground-floor retail component of the recently-opened Sunset Harbour public parking garage designed by Arquitectonica. Aztec Group managing directors Jason Shapiro and Jim Fried represented the borrower in the deal. The eight properties total 60,000 square feet of net rentable space, including 30,000 in Sunset Harbour Shops, which is now home to tenants including Panther Coffee, Ice Box Cafe and Frankie Boutique. “The once-desolate Sunset Harbour neighborhood is transforming into a pedestrian-friendly shopping and dining destination,” Robins said. Bilzin Sumberg’s Marty Schwartz served as closing counsel for the borrower, and John Halula of Holland & Knight represented the local lender. The portfolio also includes the following properties: 1919, 1929 and 1787 Purdy Avenue; 1916 and 1930 Bay Road; 1935 West Avenue and 1850 Bay Road, all of which are in the Sunset Harbour neighborhood. The eighth property is a development site located at the Southwest corner of 17th Street and Michigan Avenue.