March 20, 2018
Robbins Property Associates secured $40.5 million in acquisition financing for Art Avenue Apartment Homes, a 300-unit garden style community located in Orlando. The seller was Los Angeles-based Colony NorthStar, Inc, an equity REIT.
The asset is located at 10201 Lee Vista Blvd., and was built in 2014 in southeast Orlando, between large-scale employment hubs and transit routes. It offers studios, one, two, and three-bedroom units.
Berkadia’s Mitch Sinberg, Matthew Robbins and Wesley Moczul arranged the loan on behalf of the borrower. Freddie Mac originated a 10-year, floating rate loan with a competitive LTV ratio and five years of interest only.
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