May 14, 2018 Comments Off on Harbor Group Claims Orlando MF for $64M, Berkadia Arranges $42M Loan Views: 2929 Florida, National News, Southeast

Harbor Group Claims Orlando MF for $64M, Berkadia Arranges $42M Loan

Berkadia arranged $41.92 million in acquisition financing for Alexan Crossroads, a 314-unit, Class A-plus garden style community located in Orlando, FL, on behalf of Norfolk, VA-based Harbor Group International, which paid $64 million for the property. The fixed-rate 65% LTV loan was originated by a major life insurance company, with a five-year loan term with two one-year extension options and three-years interest only.

Built in 2016 by Trammell Crow Residential, the property is located at 7261 Crossroads Garden Dr. in the South Orlando market. One, two, and three-bedroom units offer wood plank-style flooring, stainless steel appliances, granite counters, kitchen tile backsplash, washer/dryer, and private balconies with French doors. Community amenities include a zero-entry salt water swimming pool, summer kitchen with multiple grilling stations, yoga/spin room, two-story fitness center, and expansive two-story clubhouse.

Berkadia’s Charles Foschini, Christopher Apone, and Lourdes Carranza-Alvarez arranged the loan on behalf of the buyer.

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