"This represents the largest dollar volume multifamily transaction in the history of Orlando," Mark Findura, Twitty's president/partner, tells GlobeSt.com.
The loan is on Park Avenue at MetroWest, a 743-unit, class A apartment complex on 41 acres along Turkey Lake and the 18-hole Trent Jones golf course at the 1,800-acre MetroWest mixed-use development in southwest Orlando.
The project is 60% leased and 55% occupied. In July alone, 80 units were rented. Fugleberg Koch Architects of suburban Winter Park designed the venture. Construction started in January 2000.
Findura also closed the $5.1 million land transaction for the 432-unit, Phase III of Park Avenue at MetroWest.
In a separate transaction, Findura and Tony Ferry closed a $2 million loan for Professional Center of Longwood, owner of the 18,000-sf ProMed Center of suburban Longwood, FL in Seminole County. SouthTrust Bank was the lender.
The property is just east of Orlando Regional Hospital System's South Seminole Hospital.
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