The Real Deal Miami

Miami’s Aztec Group secures $4 million loan for Lakeland Kmart

January 17, 2013 10:30AM

Kmart in Lakeland

Miami-based Aztec Group has secured a $3.91 million loan for the acquisition of a Kmart store at 4717 South Florida Avenue in Lakeland, the firm announced. Aztec Group’s Charles Penan and Howard Taft completed the transaction on behalf of the borrower, MG3 Casablanc 1, an affiliate of Hollywood-based real estate investment company MG3. The financing was provided by Sabadell United Bank for a seven-year term. “We evaluated the best financing options and secured competitive terms that allowed our client to acquire the retail asset,” Taft said. —Alexander Britell