(To read more on the debt and equity markets and themultifamily market, click here.)
ORLANDO-With $22.33 million in financing, Condo Max USA willacquire Cypress Pointe, a 236-unit multifamily complex at 4030Dijon Rd., which it plans to convert into condominiums.
Houston-based Holliday Fenoglio Fowler, LP secured a$19.7-million adjustable-to-fixed-rate senior loan and a$2.62-million mezzanine loan, both through Anglo Irish Bank Corp.,PLC, for the acquisition. HFF senior managing director RobertKaplan worked on the transaction. Each loan has a 24-month,interest-only term. Condo Max USA was founded by two members of NewYork-based Ashkenazy & Agus and specializes in condominiumconversions.
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