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Florida & Gulf Coast  |  October 15, 2019
David Cohen
By: David Cohen

Berkadia Secures $23M Refinancing for Orlando Apartment Property

Berkadia has secured a $22.8-million loan to refinance Avery Place Villas, a 172-unit garden-style apartment community in Orlando.

Located at 5917 Mustang Pl., Avery Place was built in 1984 and consists of single-story one-, two- and three-bedroom units. Features include washer/dryer, attached garages, and cathedral ceilings in some units. Community amenities include a pool, 24-hour fitness center, internet café, business center and lighted tennis courts.

Charles Foschini and Chris Apone of Berkadia’s Miami office, as well as John Reed and Pauline Crytzer of Berkadia’s Richmond office, arranged the financing on behalf of BW Avery Place LLC through Freddie Mac. Terms included a 10-year, fixed-rate loan, with five years of interest-only payments.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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