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Berkadia Arranges $74M Refinancing for Orlando MF Community

Berkadia has secured a $74 million loan for the recapitalization of Linden Audubon Park, a 449-unit, gated multifamily community in Orlando.

Built in 2017, the community is set on a 19-acre infill site in Orlando’s Audubon Park. The community is located at 990 Warehouse Road and occupies the last buildable multifamily garden parcel of this size in the area. The community consists of 12 three- and-four story buildings offering a mix of one-, two- and three-bedroom floor plans. Community amenities include two resort-style pools, poolside entertaining bar, outdoor kitchens, gas grill areas and fire pit, a two-story clubhouse with gym, game room, dog park and dog wash station as well as direct access to Cady Way Trail and Lake Druid Park.

Charles Foschini and Chris Apone of Berkadia’s Miami office secured the financing on behalf of the borrower, Harbor Group International. Berkadia originated, and Freddie Mac purchased, the 10-year, floating-rate loan with partial interest only and a 75 percent LTV.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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