MIAMI—When you think of South Florida's office market, you probably don't think much about Hallandale Beach, FL. But there is plenty of capital to go around, it seems, in submarkets like this one.

Aztec Group secured $6.25 million in debt financing for 1920 Corporate Place, a 10-story, multi-tenant office building in Hallandale Beach. Aztec senior managing Howard Taft and director Charles Penan, represented the borrower, 0291 Building.

“The financing of 1920 Corporate Place was a very challenging and highly-structured transaction,” says Taft. “We worked to carefully arrange financing terms that fit our client's needs.”

Rialto Mortgage Finance, a New York-based conduit lender, provided the loan. The terms secured were a 10-year term, 60% loan-to-value, non-recourse, fixed rate facility carrying an interest rate below 5%, and one year of interest-only payments with a 30-year amortization schedule.

“This is another example of a high quality asset in a desirable market being able to secure sound financing. 1920 Corporate Place's ideal location, tenant mix, and strong ownership proved very valuable for the lender,” says Charles Penan, director at Aztec. “This is the first of many transactions both borrower and lender hope to execute together.”

1920 Corporate Place is located at 1920 East Hallandale Beach Boulevard and spans 70,000 square feet of office space. The building is 98% occupied to over 75 tenants, including accounting firms, medical, and law offices.

“While there may be pockets in every area that are still relatively quiet, the Southeast as a whole has come back very strong,” Charles H. Williams, senior vice president and Southeast regional manager for KeyBank Real Estate Capital, tells Globe.St.com. “We're currently seeing the secondary and tertiary markets build themselves back up to impressive levels of growth and development.”