$23.19 MILLION ACQUISITION LOAN SECURED FOR FLORIDA APARTMENTS

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TAMARAC, FLA. — Coral Vista Investors has received $23.19 million in financing for the acquisition of the 300-unit Archstone Gardens apartment complex. The Tamarac property features a swimming pool, a car wash area and a tennis court. Freddie Mac financed the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets' Miami office secured the loan.

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