Advenir Recaps an Orlando Apartment with Freddie Mac Financing
Berkadia secured the $37.33 million recapitalization on behalf of the borrower, Advenir.
ORLANDO, FL – Berkadia has secured $37.33 million in financing for the recapitalization an Orlando, FL apartment community.
Berkadia originated and arranged the financing on behalf of the borrower, Advenir. Freddie Mac purchased the 7-year, fixed-rate loan with full-term interest, at 70% loan-to-value.
The 308-unit, Advenir at Polos East Apartments, situated at 1700 Woodbury Road, is located ten minutes from the University of Central Florida and 20 minutes from downtown Orlando.
The pet-friendly community offers one-, two- and three-bedroom layouts, averaging 877-square-foot units. Built in 1990, the property offers amenities such as a resort-style swimming pool, a 24-hour fitness center, a sauna, internet café, game room, basketball court, volleyball court, tennis court and racquetball court.
Senior managing director, Charles Foschini and managing director, Christopher Apone of Berkadia’s Miami office arranged the recapitalization.