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Aztec Group Secures $60M Construction Loan for Dania Beach MXU Project

Aztec Group has secured a $60 million construction loan originated by 3650 REIT for the ground-up development of Oasis Pointe, a luxury mixed-use property in Dania Beach.

Located at 150 S. Bryan Road in Dania Beach, the eight-story project will be a modern, class A waterfront rental apartment community consisting of 301 units, structured parking and a 19-slip boat club. The property is adjacent to the mixed-use Dania Pointe project, which features multiple hotels and retail and lifestyle amenities. Additional project amenities include a waterfront boardwalk, meditation and butterfly gardens, a lap pool, curated art and integrated technology throughout.

Aztec Group secured the non-recourse financing package on behalf of borrower Cymbal Development, a design-driven development and construction company. Terms of the financing include a fixed interest rate throughout the 42-month loan term and an 80 percent loan-to-cost ratio.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Financing
  • ◦Development
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