MIAMI—Elan Audubon Park, a 449-unit multifamily asset located in Orlando, had traded hands. The multifamily property traded for $97.1 million.
Berkadia secured $65.7 million in financing for the acquisition on behalf of borrower Harbor Group International. Berkadia South Florida senior managing director Charles Foschini, managing director Chris Apone and senior analyst Lourdes Carranza-Alvarez arranged the transaction.
Bank of America is the lender. The loan has a five-year term, with extension options, and carries a coupon of Libor, with an LTV of 66%.
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