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Southeast | Orlando
Jun 22, 2009
NTS Development Co. has secured a $25 million financing deal for a pair of multi-family properties in Longwood, Fla. The Chicago and Miami offices Holliday Fenoglio Fowler L.P arranged the financing for Gold Brook and Sabal Park Apartments, which comprise a total of 357 units near Orlando. HFF directors Matthew Schoenfeldt and Elliott Throne worked on behalf of NTS to secure the floating-rate loans through Freddie Mac’s “capped ARM” financing program. A $14.63 million loan was arranged for Gold Brook and a $9.6 million loan was secured for Sabal Park. Both loans will be serviced by HFF. Gold Brook Apartments has 195 units averaging 1,538 square feet, and is currently 92.3 percent leased. The 90.7 percent occupied Sabal Park Apartments offers 162 units averaging 1,497 square feet each. Both communities feature fitness centers, swimming pools, hot tubs and car wash facilities for residents.
NTS Development Co. has secured a $25 million financing deal for a pair of multi-family properties in Longwood, Fla. The Chicago and Miami offices Holliday Fenoglio Fowler L.P arranged the financing for Gold Brook and Sabal Park Apartments, which comprise a total of 357 units near Orlando. HFF directors Matthew Schoenfeldt and Elliott Throne worked on behalf of NTS to secure the floating-rate loans through Freddie Mac’s “capped ARM” financing program. A $14.63 million loan was arranged for Gold Brook and a $9.6 million loan was secured for Sabal Park. Both loans will be serviced by HFF. Gold Brook Apartments has 195 units averaging 1,538 square feet, and is currently 92.3 percent leased. The 90.7 percent occupied Sabal Park Apartments offers 162 units averaging 1,497 square feet each. Both communities feature fitness centers, swimming pools, hot tubs and car wash facilities for residents.
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