Florida Investor Inks Refis for 3 Rental Assets

Robbins Property Associates obtained refinancing on three Central Florida multifamily properties. Berkadia secured the $107.3 million loan. Mitch Sinberg, Scott Wadler, Brad Williamson, and Hugo Hernandez of Berkadia Boca Raton and Miami arranged the financing on behalf of Robbins.

Berkadia originated, and Freddie Mac purchased a 10-year, fixed-rate loan for each property.

The properties in the portfolio include:

• Briarcrest at Winter Haven. Built in 1973, 460-units. Freddie Mac provided a $48.3 million loan with 8 years interest-only, a 35-year amortization period, and 70% loan-to-value. 
• Legend Oaks, located at 4714 N Habana Ave in Tampa. Built in 1983, 416-units. Freddie Mac provided a $54.6 million loan with eight years interest-only, a 35-year amortization period, and 70% loan-to-value.
• Windward Apartments, located at 1746 Bowen Drive, Orlando. Built in 1973, 68-units. Freddie Mac provided a $4.485 million loan with full-term interest-only, a 30-year amortization period, and 65% loan-to-value.