High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + Central Florida  + Apartments  | 
First Citizens Bank provided a $48 million senior secured loan to finance the acquisition of the Dunson Grove apartments

First Citizens Bank Provides $48 Million for Acquisition of Florida Apartment Community

First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, provided a $48 million senior secured loan to finance the acquisition of the Dunson Grove apartment community in Davenport, FL.

The property consists of 18 three-story buildings with 319 residential units. Located in a suburb of Orlando, the community benefits from immediate access to Interstate 4, as well as close proximity to job opportunities in the healthcare, distribution and tourism industries.

“The borrower is well-known for their strong and diverse portfolio,” said Chris Niederpruem, head of Real Estate Finance. “We are pleased to partner with them for financing on Dunson Grove to support the continued growth in the Orlando suburbs.”

“We were delighted to support our client in this investment in the Orlando multifamily market,” said Mike Pedone, a managing director in Real Estate Finance. “We look forward to partnering with them in their future endeavors.”

Connect

Inside The Story

About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

New call-to-action
New call-to-action