Orlando, FL – March 12, 2013 – (RealEstateRama) — CBRE announced today that it has arranged $28 million in financing for 408-unit multi-family community in Orlando, Florida.
CBRE worked on behalf of Advenir@Broadwater, LLC to secure acquisition financing through Freddie Mac. The 10-year loan is partial interest only and represents an 80% loan-to-value ratio. Proceeds were used to acquire the property.
“Advenir continues to be an active buyer of high quality multifamily product. Freddie Mac recognized both the strength of the buyer and underlying market in making what historically would be considered a cutting edge aggressive loan,” said Charles Foschini.
Broadwater Apartments, built in 1987, is located at 6677 Tanglewood Bay Drive in Orlando. The property features an average unit size of 817 square feet and is comprised of 136 one bedroom units and 272 two bedroom units. Broadwater Apartments consists of 22 two-story residential buildings containing 333,136 square feet of net rentable area. Community features include two resort style pools with spa, fitness center with free weights, well-appointed clubhouse with Wi-Fi and large screen TV, resident business center, indoor racquetball court, car care center, and complimentary DVD library.
The CBRE team, representing the borrower, includes Charles Foschini, Vice Chairman with CBRE’s Debt & Equity Financing Group, Christian Lee, Vice Chairman with CBRE’s Institutional Group and Christopher Apone, Vice President with Debt & Equity Financing Group, who provide investment sales and financing solutions to commercial property owners.
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 2011 revenue). The Company has approximately 34,000 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
Marketing & Communication Specialist
tempe.seibel (at) cbre (dot) com
- CBRE CAPITAL MARKETS ARRANGES $30,279,000 LOAN FOR 480-UNIT FT. LAUDERDALE APARTMENT COMMUNITY
Ft. Lauderdale, FL - April 4, 2012 - (RealEstateRama) -- CBRE Capital Markets closed on a $30,279,000 loan for the acquisition of San Tropez Apartments in Pembroke Pines, Florida, on behalf of the borrower, Advenir@San Tropez, LLC. Terms of the loan include a 10-year term with three years interest-only financing and a 75 percent loan-to-value ratio. The deal closed Friday,...
- CBRE CAPITAL MARKETS ARRANGES $36.6 MILLION IN FINANCING FOR TWO MIAMI APARTMENT COMMUNITIES
Miami, FL - February 13, 2012 - (RealEstateRama) -- CBRE Capital Markets in Miami arranged a $36,590,000 refinance loan for Fairway View and Palmetto Place in Miami, Florida. CBRE Vice Chairman Charles Foschini in Miami was joined by Vice President Christopher Apone and Vice Chairman Christian Lee in representing the borrower, Fairway View Associates LTD and Palmetto Place Associates LLC....
- 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 $6 MILLION IN PERMANENT FINANCING FOR BANK UNITED BUILDING
Delray Beach, FL - June 8, 2012 - (RealEstateRama) -- CBRE Capital Markets in South Florida secured permanent financing on the Bank United Building in Delray Beach, Florida for $6,050,000 on behalf of the borrower, Yomtob Office Holdings, LLC....
- CBRE CAPITAL MARKETS ARRANGES $64.8 MILLION IN FINANCING THROUGH FREDDIE MAC
Miami, FL - May 18, 2012 - (RealEstateRama) -- CBRE Capital Markets in South Florida secured financing for two acquisition loans through Freddie Mac for a total of $64,750,000 million. In Castle Rock, Colorado, CBRE secured $40,560,000 on behalf of the local-based investment group, Advenir, for the acquisition of the Lodge at Castle Pines, a 356-unit multifamily community. On behalf...
- Attorney General Pam Bondi Announces New Procedures Banks Must Follow to Help Distressed Homeowners Seeking Relief Under National Mortgage Settlement
- Public Works urges citizens to protect their property from flooding hazards
- Community-development conference kicks off in Orlando; 2,100 professionals, $1.84 million in economic impact expected
- SOUTH FLORIDA MULTIFAMILY MARKET CHARTS RECORD SALES
- CBRE HOTELS SELLS THE COMFORT INN UNIVERSITY GAINESVILLE, FLORIDA
- Tampa Law Firm Sued for Mortgage Rescue Scam
- 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’