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ORLANDO-Archstone, the Englewood, CO-based REIT, has sold its Archstone Altamonte Springs development to Title Properties of Colorado for $15.1 million, according to Charles J. Foschini, vice chairman of CB Richard Ellis’ Debt and Equity Finance and Institutional group in Miami, who, along with team members, arranged for $10.6 million in acquisition financing through Freddie Mac for the 224-unit property. The loan has a loan-to-purchase price of 70%, a 10-year term, 30-year amortization and a favorable, fixed-interest rate.


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