We don’t hear much in the seniors housing and care business from Florida-based investment and merchant bankers Aztec Group, Inc., but the firm recently refinanced two memory care communities in Tampa and Oviedo, Florida. Each community, under the Memory Lane Cottages brand, comes with 20 private suites, with bathrooms in all, and stable operations. They are owned by a joint venture between Mayan Properties, which is affiliated with Aztec’s CEO Ezra Katz, Facility Investments, LLC, and National Healthcare Associates, Inc., a healthcare consulting firm based and operating out of the Northeast.
The refinance totaled $5.1 million, with about $3 million going towards the Oviedo property and the balance to the Tampa one. Charles Penan and Howard Taft of Aztec secured five-year loans, with one year of interest only and a 25-year amortization schedule, from Florida Community Bank.
