Tallahassee, FL – January 24, 2012 – (RealEstateRama) — CBRE Capital Markets arranged an $8-million bridge loan refinance on behalf of TREO Partners LLC for a two-property student housing portfolio in Tallahassee, Florida. Terms of the loan include an 18-month loan term with interest-only financing, a 75% loan-to-value ratio with minimum DCR of 1.25 and a floating interest rate over the 30-day Libor.
The student housing portfolio consists of two garden-style student apartment properties located just outside the Florida State University campus; The Villa Cortez (138 Units, 150,660 RSF) is located at 1832 Jackson Bluff Road and 1111 on High (136 units, 136,800 RSF) is located at 1111 High Road. The portfolio was 94.3% leased at the time the loan was closed.
Charles Foschini, Vice Chairman of CBRE’s Debt & Equity Finance and Institutional Group and team members, Christian R. Lee and Christopher Apone located in CBRE’s Miami office arranged the financing through Greystone Financial Group. The borrower, TREO Partners LLC, is based in Miami.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
Marketing Director, FL
elizabeth.cross (at) cbre (dot) com
Communications & Media Manager, FL
lauren.crawford (at) cbre (dot) com
- CBRE CAPITAL MARKETS ARRANGES $5 MILLION IN FIXED FINANCING FOR THE GREEN COMPANIES
Hialeah, FL - December 21, 2011 - (RealEstateRama) -- CBRE Capital Markets in Miami secured $5 million in fixed financing on behalf of The Green Companies, a family-owned real estate development firm based in Miami. The terms of the loan, for the Green Vista Apartments in Hialeah, include a 30-year amortization schedule, a maximum 75% loan-to-value and minimum DSCR of...
- CBRE CAPITAL MARKETS ARRANGES $52.57 MILLION IN PERMANENT FINANCING FOR MULTIFAMILY PROPERTIES
Orlando, FL - November 21, 2011 - (RealEstateRama) -- Financing of multifamily properties through Freddie Mac’s Capital Markets Execution (CME) loan program remains strong throughout the U.S. as reflected by the recent transactions from CBRE’s Orlando, Florida office. In less than two months, CBRE Senior Vice President Glenn Housman, MAI, secured a total of $52.57 million in permanent financing for...
- CBRE ARRANGES $10 MILLION REFINANCE FOR BLACKSTONE APARTMENT COMMUNITY
Miami, FL - August 31, 2011 - (RealEstateRama) -- CBRE arranged $10 million in proceeds for the purpose of refinancing the debt on The Blackstone Apartments in Miami Beach, Florida. Financing terms of the loan include a 7-year fixed rate term, 2-years interest only, and a 70% loan-to-value ratio....
- CBRE CAPITAL MARKETS ARRANGES FINANCING FOR CARRIAGE HILLS APARTMENTS IN PENSACOLA
Pensacola, FL - December 14, 2011 - (RealEstateRama) -- CBRE Capital Markets recently arranged $6.75 million in proceeds for the purpose of refinancing the debt on Carriage Hills Apartments, a 260-unit garden style apartment complex in Pensacola, Florida. Financing terms of the loan include a 10-year fixed-rate term, 30-year amortization schedule and loan-to-value of 75%. The transaction was completed on...
- CBRE ARRANGES $250 MILLION ACQUISITION FINANCING FOR H&R REIT
Long Island City, NY - November 7, 2011 - (RealEstateRama) -- The CBRE Capital Markets team in Tampa arranged the acquisition financing on Two Gotham Center, a 670,000-square-foot, state-of-the-art, LEED Certified 22-story office building, on behalf of the borrower, H&R REIT. Financing terms of the $250 million loan include a 10-year term and a 4.25% interest rate....
- Attorney General Pam Bondi Announces New Procedures Banks Must Follow to Help Distressed Homeowners Seeking Relief Under National Mortgage Settlement
- CBRE ARRANGES SALE OF NEW FREESTANDING TRIPLE NET LEASED BANKUNITED INVESTMENT PROPERTY IN FORT LAUDERDALE, FL
- INFORMATION SECURITY COMPANY TO DOUBLE IN SIZE
- CBRE CLOSES SALE OF TWO ISLAMORADA RESORT/MARINA ASSETS
- CBRE ARRANGES SALE OF NEW TROPHY SINGLE-TENANT NET LEASE BANK OF AMERICA IN FORT LAUDERDALE, FL
- Public Works urges citizens to protect their property from flooding hazards
- Martinez Announces First-Time Homebuyer Forum in Miami
- Attorney General Hosts Second Miami Community Forum on Housing Issues
- Martinez Hosts Homeownership Preservation Forum for Residents In Manatee & Sarasota Counties
- Attorney General, Florida Interagency Mortgage Task Force Host Broward Community Forum on Housing Issues
- Attorney General McCollum Hosts South Florida Community Forum on Housing Issue
- Florida Interagency Mortgage Task Force Hosts Community Forum on Housing Issues
- Attorney General Hosts Central Florida Community Forum on Housing Issues
- The Conference Board: Consumer Confidence Index down
- FLORIDA PARTNERSHIP RECEIVES $1,000,000 AFFORDABLE HOUSING PRESERVATION GRANT AWARD FROM THE MACARTHUR FOUNDATION
- Sinking dollar gives foreigners ‘upper hand’