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Florida & Gulf Coast  + Central Florida  + Finance  |  August 12, 2022
Encore Multifamily has secured a $16.4-million capital partner sourced by Berkadia for Encore Narcoossee apartments in Orlando.
Lisa McDuffie
By: Lisa McDuffie

$16M Equity Investor Boosts Encore Multifamily’s Second Orlando Development

Encore Multifamily, a division of Encore Enterprises, has landed a $16.4-million capital partner to support the development its second apartment community in Orlando, FL.

Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia sourced an institutional investment manager that is providing its equity investment on top of a construction loan from Synovus Bank. The completion is Berkadia’s third equity placement for Encore Multifamily

The Encore Narcoossee multifamily will be a three-story, 249-unit garden-style community on a 14.5-acre site in the growing Lake Nona submarket. Lake Nona is close to local demand drivers including top area employers, the tourism corridor, major roadways and Orlando International Airport.

The property on Narcoosee Road has begun construction and will deliver a mix of studio, one-, two- and three-bedroom apartments along with a resort-style club, fitness center and pool.

Read More News Stories About: Berkadia
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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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