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Avison Young Secures $71M Bridge Loan for Orlando MF
A $70.5 million bridge loan was arranged for CitiTower, a 25-story, Class A+ multifamily development with 233 units at 101 Lake Ave. in downtown Orlando. The financing was secured on behalf East SDG CitiTower LLC, of which Albert J. Socol is Managing Member.
Avison Young’s George Vail arranged the floating rate loan, which was financed through Asia Capital Real Estate for a 3-year term with an interest-only amortization schedule. The interest rate was Libor plus 350 basis points.
“The purpose of the loan is to refinance the current construction loan on CitiTower and provide the additional capital to finish leasing up the ground-floor retail and the second-floor commercial space,” said Vail.
Completed in August 2017 and constructed to condominium standards and quality, CitiTower is one of the market’s top apartment high-rises. It boasts a residential occupancy of 97%.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing

