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 Aztec Group, Inc., Arranges $28 million in Sale and Financing
of the Doubletree Resort Orlando Villas at Maingate
in Kissimmee, Florida

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Miami, Florida - August 4, 2005 Aztec Group, Inc., Florida's leading real estate investment and merchant banking firm based in Miami, is pleased to announce the sale, as well as arranging first mortgage financing on the Doubletree Resort Orlando Villas at Maingate in Kissimmee, Florida.  The property was acquired by SRV Associates LLC for $12,000,000 from Villas of St. Paul, Inc.  Aztec Group, which represented both buyer and seller, also secured a $16,000,000 acquisition and renovation loan on behalf of the buyer.  The buyer has renamed the property Saratoga Resort Villas and is planning to convert to a condo/hotel following extensive renovations.

The former Doubletree property, located at 4787 Irlo Bronson Highway, contains 150 two and three bedroom townhouse villas, as well as additional five acres of land for future development.  Situated on a lush estate with ponds and fountains, the property also contains a restaurant, bar, retail space, and a tennis court.

SRV Associates, LLC has appointed Orlando based Avista Hotels to manage and oversee the renovations of the property.

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.

Contact:

Contact: Boaz Ashbel
 Managing Director 
(305) 854-5000 Ext 211
bashbel@aztecgroup.com

Also See: 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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