WINTER PARK, FL-CB Richard Ellis Capital Markets has arranged $30.7 million in acquisition financing for Sun Key Apartments. The 10-year loan offered 30-year amortization with one year of interest only, a 71% loan-to-purchase price and a “favorable” fixed rate, Charles Foschini, vice chairman of CBRE’s Debt & Equity Finance and Institutional Group, tells GlobeSt.com.

Foschini worked with CBRE team members Christian Lee and Christopher Apone to arrange the financing through Freddie Mac. CBRE's Investment Properties and Institutional Group listed and sold the asset to Greenwhich, CN-based VIII Sun Key Apartments LLC, an entity with ties to Starwood Capital Group.

The seller was Tallahassee-based HC Florida Sun Key LLC, an entity with the Board of Administration as a managing member, according to state records. The sales price was $44.2 million, or about $74,077 per door. That makes it the largest multifamily acquisition in the Orlando market this year.