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CBRE Arranges $14M Apartment Loan

ORLANDO-Brokers credit Freddie Mac's CME program in helping multifamily deals.

By Carl Cronan | Updated on May 04, 2009

(Carl Cronan is editor of Real Estate Florida.)

ORLANDO-The local office of CB Richard Ellis arranged $14 million in financing for the acquisition of Stonebrook Apartment Homes in suburban Sanford. The 10-year loan includes a fixed rate of 5.62% and 30-year amortization, with 78% loan to value.

Stonebrook Orlando Apartments LLC, a private venture between Canadian and Florida-based investors, paid $18 million for the 356-unit garden-style apartment complex. The seller was Denver-based Aimco Properties LP.

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