Concord Summit Closes Over $60M In Financing For Encore Capital Management’s Sunset Walk Apts Near Orlando
The transaction includes a $45.59 million senior loan and $14.75 million in preferred equity.
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The transaction includes a $45.59 million senior loan and $14.75 million in preferred equity.
The three purchases, with a combined total of 568 lots, closed on Friday, Oct. 1.
The three recent acquisitions total just under $20 million dollars.
Lamar Companies in a venture with Real Capital Solutions acquired the 204,185-square-foot asset.
Avanti Way Capital, through the entity, Lake Mary Retail, LLC, purchased the 4.6-acre site from Miami-based real estate investment firm, Gallium Capital.
The sale price equates to more than $291,000 per unit.
The 3.82-acre site is located adjacent to the University of Central Florida.
CBRE’s Chris Riley represented TDC and a real estate fund advised by Crow Holdings Capital in the transaction.
Newmark’s Senior Managing Director Scott Ramey and Associate Brad Downing represented the seller while Managing Directors Chris Caison and Josh Davis secured $48.1 million in bank financing for the transaction.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.
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