Aztec Group Closes $9M Equity Financing for Orlando Community
The company arranged the financing for the development of San Mateo Crossing on behalf of a private, Miami-based family office, which will serve as co-general partner in the project.
Aztec Group Inc. Director Sean Harrington, Managing Director Jason Shapiro and Managing Director Peter Mekras—who only joined the company late last year—have secured $8.9 million in joint venture equity for the development of San Mateo Crossing, a two-phase, market-rate rental community in Orlando, Fla., on behalf of a private, Miami-based family office, which will serve as co-general partner in the project.
According to Aztec Group Inc., the first phase of development will comprise more than 200 units and will spread across a 14-acre site. Eastwind Development LLC will be developing San Mateo Crossing.
The property will be located near the SunRail Tupperware commuter train station at 3205 Orange Ave. Best Food Market, Axiom Bank, Christ Dominion Church, Western Union, Frontline Outreach Center, Mount Sinai Junior Academy and Walmart Neighborhood Market are all located nearby.
“Orlando’s multifamily real estate market is booming right now as exceptional job and population growth are making it one of the fastest growing cities in the country,” said Harrington in prepared remarks. “We will only continue to see more private investors and developers expand into this market with new multi-family product that meets the community’s housing needs.”
Image courtesy of Aztec Group Inc.