April Housing Obtains $366.1M Refi for 13-Property Florida Portfolio
April Housing, a preserver of affordable housing, inked a $366.1 million refinancing on 13 Florida apartment communities. Berkadia’s Tim Leonhard secured financing through Fannie Mae on behalf of April Housing, a Blackstone portfolio company.
The portfolio includes garden-style multifamily housing assets in Miami, Jacksonville, and Tampa. The transaction advances the continued preservation and operation of affordable housing within the portfolio.
April Housing is one of the largest owners and preservers of affordable housing in the U.S. Since 2024, the company has successfully completed the preservation of more than 3,650 affordable homes across the country, including more than 700 in Florida in the last year.
Berkadia Affordable Housing is an integrated financial services platform comprised of mortgage banking, investment sales, and tax credit syndication.
Other News
Woodfield Acquires West Palm Beach Condos at Auction
Avison Young and Fisher Auction completed the sale of all of the units and the .32-acre clubhouse/pool parcel of the 84-unit, 13-building condominium community located at 2800 Georgia Avenue in West Palm Beach, Florida. Woodfield Development was the top bidder at $13.5 million. The development was over $1.5 million behind in paying its water bills....
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CBRE Arranges Financing for Rent-Stabilized Midwood Multifamily
CBRE originated a $15-million loan for a 175-unit rent-stabilized multifamily property located at 430 and 499 E. 8th St. in the Midwood section of Brooklyn. The financing was secured on behalf of ARM Management through Four Leaf Credit Union. The CBRE Capital Markets team of Judah Hammer, Jeff Feldman and Jack Hayes arranged the refinancing...
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Davis Provides $44M Construction Financing for Downtown Residential Conversion
JLL Capital Markets has arranged $44 million in financing for 31 Milk St., an adaptive reuse multifamily redevelopment in Downtown Boston. Managing director Anthony Cutone, director Madeline Joyce and associates Michael Schwarze and Joe Marinaro represented the borrower, Dinosaur Capital Partners and Mugar Enterprises. The three-year, senior construction loan was provided by an affiliate of...
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout