Florida Investor Inks Refis for 3 Rental Assets
Robbins Property Associates obtained refinancing on three Central Florida multifamily properties. Berkadia secured the $107.3 million loan. Mitch Sinberg, Scott Wadler, Brad Williamson, and Hugo Hernandez of Berkadia Boca Raton and Miami arranged the financing on behalf of Robbins.
Berkadia originated, and Freddie Mac purchased a 10-year, fixed-rate loan for each property.
The properties in the portfolio include:
- Briarcrest at Winter Haven. Built in 1973, 460-units. Freddie Mac provided a $48.3 million loan with 8 years interest-only, a 35-year amortization period, and 70% loan-to-value.
- Legend Oaks, located at 4714 N Habana Ave in Tampa. Built in 1983, 416-units. Freddie Mac provided a $54.6 million loan with eight years interest-only, a 35-year amortization period, and 70% loan-to-value.
- Windward Apartments, located at 1746 Bowen Drive, Orlando. Built in 1973, 68-units. Freddie Mac provided a $4.485 million loan with full-term interest-only, a 30-year amortization period, and 65% loan-to-value.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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