Investor Duo Close on $58.33M Homestead Apartment Refi

Artemis Real Estate Partners and Grand Peaks Properties obtained a $58.33 million loan to refinance The Olivia, a 2018-built, Class A apartment community with 288 units in Homestead, Florida, approximately halfway between Miami and the Florida Keys. The partners acquired the property for $71 million in late 2021 and invested heavily in property enhancements over the last three years. 

Mitch Sinberg, Michael Basinski, Patrick McGlohn, Scott Wadler, Brad Williamson, and Matt Robbins of Berkadia secured the financing. Berkadia originated the Freddie Mac-backed seven-year, floating-rate loan. 

Located on 3.4 acres at 14981 Southwest 283rd Street, The Olivia offers one-, two-, and three-bedroom floor plans up to 1,283 square feet. Community amenities include a swimming pool, clubhouse with business center, fitness center, and coffee bar, fenced-in play area, and proximity to parks, walking paths, and outdoor recreation. 

Grand Peaks has been a leading buyer of apartments in Miami-Dade County over the past decade, acquiring over 2,700 apartments.

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