BankUnited Refinances $145M in Loans for MF Developer

MIAMI—BankUnited refinanced $145 million worth of loans for CED Companies, a Maitland, FL-based developer of affordable multifamily developer and its affiliate, property management firm Concord Management Limited. The multifamily properties are located in Orlando, Oviedo, Kissimmee, Sanford, and Daytona Beach.

BankUnited’s Patrick Fitzgerald, vice president of commercial real estate in Orlando, worked with CED Companies CEO Alan Ginsburg and executive vice president Brian Spear to provide refinancing for 10 multifamily rental properties comprising more than 3,000 units. The Maitland headquarters of Concord Management Limited was also part of the deal. Many of the loans qualify for CRA credit based on the income- and rent-restricted nature of the properties.