CBRE ARRANGES $49.8M ACQUISITION LOAN FOR JACKSONVILLE APARTMENTS

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JACKSONVILLE, FLA. — CBRE has arranged a $49.8 million acquisition loan for Villages of Baymeadows, a 904-unit apartment community at 7915 Baymeadows Circle E. in Jacksonville. The community, built in 1972, offers one-, two-, three- and four-bedroom layouts that average 1,199 square feet. The property’s amenity package includes a clubhouse, nine resort-style swimming pools, four lakes, a fitness center, volleyball court, playground and private garages. Charles Foschini, Christian Lee and Christopher Apone of CBRE arranged the five-year loan through Wells Fargo of New York on behalf of the borrower, Norfolk, Va.-based Harbor Group International.

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