PEMBROKE PINES, FL-Aventura-based Advenir has obtained a $30.3-million loan for the acquisition of the San Tropez Apartments, a 480-unit apartment complex at 7840 N.W. Third St. in Pembroke Pines. Advenir@San Tropez has received the financing for the acquisition.
The 10-year loan has interest-only financing for three years and the loan-to-value ratio is 75%. The multifamily property, constructed in 1974 and refurbished in 2006, comprises 41 two-story buildings. CBRE Capital Markets arranged the loan through Freddie Mac. For the full story, go to South Florida Business Journal .
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