AOG Obtains $66.8M Refi on Orlando Apartments
AOG Living inked a $66.8 million loan to refinance Art Avenue Apartment Homes, a 300-unit, Class A garden-style multifamily apartment community located in the Vista East neighborhood of Orlando, Florida.
Lender Starwood provided the three-year loan with two one-year extension options. The financing structure also includes a $3 million future-funding component to support the sponsor’s capital-expenditure plan and further enhance the property’s ability to capture already-demonstrated rent premiums.
Mitch Sinberg, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia Boca Raton and Miami secured the financing on behalf of AOG Living.
The 2014-built gated community, located on 17 acres at 10201 Lee Vista Boulevard, offers modern one-, two-, and three-bedroom floor plans up to 1,337 square feet. Community amenities include a resort-style saltwater swimming pool; clubhouse with cafe and coffee bar; fitness center with spin room; new 24-hour package center; dog park and pet spa; access to garages and storage units; and lakeside walking trail.
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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