Thorofare Capital Provides $44M Acquisition Loan for Celebration MF Property
National commercial real estate lender Thorofare Capital has provided a $44 million permanent loan for the acquisition of Astoria at Celebration, a 306-unit multifamily property in Celebration, FL.
The apartment complex is comprised of a mix of one-, two- and three-bedroom units. The units include fully equipped kitchens, stainless steel appliances, granite islands, walk-in closets and spa-like bathrooms. Community amenities include a saltwater swimming pool, private pool cabanas, 24-hour fitness studio with Peloton bikes, clubhouse with a media lounge and elevator access in each building.
Thorofare Capital provided the financing to the buyer, an affiliate of Aliso Viejo, Calif.-based Versity Investments. The seller was CGI+ Real Estate Investment Strategies. Terms of the financing included an initial term of seven years as well as an interest-only period followed by 30-year amortization schedule.