Florida & Gulf Coast + Central Florida + Finance | May 6, 2020

Berkadia Arranges $37M Recap of Orlando Apartments for Advenir

Miami-based Advenir secured $37.33 million in financing for the recapitalization of Advenir at Polos East Apartments, a 308-unit apartment community located in Orlando. Berkadia originated and Freddie Mac purchased the seven-year, fixed-rate loan with full-term interest only, at a 70% loan to value.

Located at 1700 Woodbury Rd., the community was built in 1990 and consists of a mix of one, two and three-bedroom apartments. Amenities at the pet-friendly community include a resort-style swimming pool; 24-hour fitness center; sauna; basketball, volleyball, tennis and racquetball courts; Internet café; and game room.

Berkadia’s Miami team of Charles Foschini and Christopher Apone arranged the financing.

Foschini says, “While this transaction was signed up just as the full force of the pandemic was being felt in our economy, Freddie Mac, the Berkadia team and the client worked tirelessly and often remotely to execute the due diligence and fund the loan without delay.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.