Hotel Online  Special Report

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Aztec Arranges $28 million Construction Loans for Courtyard
and Residence Inn in San Antonio, Texas
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Miami, Florida -- July 21, 2008 - Aztec Group, Inc., Florida’s leading real estate investment and merchant banking firm, is pleased to announce the placement of a $28,050,000 construction loan for the development of a Courtyard and a Residence Inn in San Antonio, Texas.

The hotels will be located in the NE Quadrant of Interstate 10 and 1604 loop, in the La Cantera neighborhood of San Antonio, Texas.

The site is adjacent to the RIM, an 800-acre mixed-use development currently in its final stage of completion. The RIM provides firstclass shopping, dining and entertainment through various merchandisers, specialty retailers, and restaurants. The complex also offers office and residential facilities.

The Courtyard will include 120 rooms and will be adjacent to the 140-key Residence Inn. The hotels will be constructed simultaneously on a split parcel, with construction to commence in July 2008. Both of the properties are being developed and will be operated by Concord Hospitality based in Raleigh, North Carolina.

“The ability to secure construction/mini perm loans in today’s challenging lending environment is a tribute to the strength of the sponsorship, the brands and the location of these hotels”, noted Boaz Ashbel, Aztec’s Managing Director, who along with Jason Shapiro, placed these loans.
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Founded in 1981, Aztec Group, Inc. is a full service real estate investment and merchant banking firm specializing in facilitating the acquisition, disposition, financing and capital needs of real estate projects for institutional investors, entrepreneurs, developers and offshore clients.

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Contact:

Aztec Group, Inc.
Boaz Ashbel, Managing Director 
2665 S. Bayshore Drive, PH2A 
Coconut Grove, FL 33133 
(305) 938-8617 
bashbel@aztecgroup.com
www.aztecgroup.com

 Jason Shapiro
 Managing Director
(305) 938-8633
jshapiro@aztecgroup.com

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Also See: Aztec Arranges $13 million Loan for the Comfort Inn Airport/Cruise Port in Fort Lauderdale, Florida / January 2008
Aztec Group, Inc. Arranges the $12.25 Million Sale of Ramada Inn Airport North/Days Inn Westland Mall in Hialeah, Florida / August 2007
Aztec Arranges the $70 million Refinancing for the Sheraton Miami Mart and the Sheraton Orlando Downtown / March 2007
Aztec Group, Inc. Arranges the $79 Million Sale of Hawk’s Cay Resort in the Florida Keys / February 2007
Aztec Group Arranges the Sale of the Hampton Inn & Suites Ft. Lauderdale - Airport in Hollywood, Florida / May 2006
Aztec Group Arranges the Sale of the Stirling Suites (Formerly SpringHill Suites – Fort Lauderdale Airport) in Dania Beach, Florida / May 2006
Aztec Group, Inc. Arranges the $12 Million Sale of the Comfort Inn Airport/Cruise Port South, Hollywood, Florida / February 2006
Aztec Arranges $20 million for Condo-Hotel Redevelopment Financing for the Breakwater and Edison Condo/Hotels in the Historic Art Deco District of South Beach / October 2005
Aztec Group, Inc., Arranges $28 million in Sale and Financing of the Doubletree Resort Orlando – Villas at Maingate in Kissimmee, Florida / August 2005
Aztec Arranges the Historic Sale of World-Famous Fontainebleau Hotel, A Miami Beach Landmark / June 2005
Aztec Group Places $21 million Bridge Loan on the Breakwater/Edison Hotels on Miami Beach / October 2004


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