Carey Stiss is busy doing multifamily deals. The Bilzin Sumberg real estate partner recently closed a $21 million refinance of a Broward County apartment complex on behalf of CP-PRCP Lauderhill, an affiliate of Priderock Capital Partners.
In 2008, Stiss represented CP-PRCP in the purchase of The Glen at Lauderhill (formerly The Villas at Lauderhill) from Intervest National Bank. The bank had acquired the hurricane-damaged, 405-unit complex through foreclosure.
The acquisition was financed by a $21 million reconstruction loan provided by BB&T Real Estate Funding. This time around, Stiss negotiated a $21 million refi with lender Freddie Mac.
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