FORT LAUDERDALE, FL—San Tropez Apartments proved worthy of a$30.3 million loan. Advenir@San Tropez closed onan acquisition loan for the Pembroke Pines-based TropezApartments.

CBRE Capital Markets vice chairmanCharles J. Foschini, vice chairmanChristian R. Lee, and vice presidentChristopher Apone arranged the financing on behalfof the buyer through Freddie Mac. CBRE alsorepresented the seller, Fairfield ResidentialCompany, in the disposition, led by executive vicepresident Robert Given and associateZachary Sackley.

“The biggest challenge in this deal was the LURA, the land userestriction agreement that ran with the property,” Foschini tellsGlobeSt.com. “The borrower was very strong, the asset was verystrong and Freddie Mac loved the deal. But the challenge was to geta loan commitment in the time frame that allowed the borrower to gohard and get the LURA approved. We were able to do that.”