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Berkadia Arranges Refi for Ocoee Apartments
Berkadia secured the financing for Advenir at the Oaks, a 408-unit garden-style multifamily property in Orlando’s Ocoee submarket. Charles J. Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia Miami secured a $54.7 million loan on behalf of Advenir.
Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loan with a 65 percent loan-to-value ratio.
Built in two phases between 1989 and 1991 at 3100 and 3200 Old Winter Garden Road, Advenir at the Oaks offers one-, two-, and three-bedroom apartments. Community amenities include two on-site swimming pools, a clubhouse with a 24-hour fitness center and business center, a bark park, two laundry facilities, a tennis/pickleball court and basketball court, and a playground.
Advenir at the Oaks is a short commute from Valencia College and the University of Central Florida and is located 15 minutes from Orlando International Airport and a 20-minute drive from Downtown Orlando.
- ◦Financing
