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Florida & Gulf Coast  + Finance  |  August 21, 2020
David Cohen
By: David Cohen

Colliers Secures $47M Refinancing for Space Coast MF Property

Colliers International has secures a $47 million construction loan take-out refinancing for Aqua Residences, a 320-unit multifamily development in Palm Bay.

The property is comprised of one-, two- and three- bedroom residences. Amenities include a resort-style pool and lounge area, private cabanas, yoga lawn, cross-training course, electric car charging stations, private garages and views of the Indian River and Melbourne Beach.

Jeffrey Donnelly and Dmitry Levkov secured the financing on behalf of the borrower, Northshore Development. Credit-focused alternative asset management firm, Benefit Street Partners provided the financing.

For comments, questions or concerns, please contact David Cohen

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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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