AZTEC ARRANGES $20 MILLION SALE OF
 WATER PLACE AT WOODMONT APARTMENTS IN TAMARAC, FLORIDA

 Miami, Florida -- Aztec Group, Inc., Florida's leading real estate investment and merchant banking firm based in Miami, is pleased to announce the sale of Water Place at Woodmont located in Tamarac, Broward County, Florida for $20,000,000.

Water Place at Woodmont is a 199-unit apartment community. The property consists of 4 residential buildings on approximately 13.44 acres.

Aztec Group represented Water Place Apartments, LLC in the disposition to BHE Acquisitions, LLC and their joint venture partner BlackRock, Inc. Built in 1987 in the Woodmont community of Tamarac, Water Place was 95% occupied at the time of closing. “ Water Place is a core asset acquisition for the BlackRock fund with great upside in the rental rates. Through a repositioning strategy with its operating partner BH Management, Water Place will be taken to the next level,” commented Michael Stein, Aztec’s Managing Director who structured the transaction with Peter Mekras, Director.

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.