PALM SPRINGS, FL-A Freddie Mac correspondent, CB Richard Ellis Capital Markets has secured $7.305 milion permanent financing for Advenir Station at Springdale Apartments, a 151-unit multifamily community in Palm Springs.
The fixed-rate loan has a term of 10 years, grounded on a 30-year amortization and a well-disposed fixed interest rate. The loan-to-value is 77%. Brokers from CBRE's Miami office and CBRE's Debt & Equity Finance and Institutional Group arranged the finance for Advenir@Pines, LLC through Freddie Mac. For the full story, go to Florida Real Estate Journal.
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