$7.3 MILLION LOAN ARRANGED FOR FLORIDA MULTIFAMILY PROPERTY

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PALM SPRINGS, FLA. — CB Richard Ellis Capital Markets has arranged $7.3 million in financing for Advenir Station at Springdale Apartments, a multifamily community located in Palm Springs. The 151-unit community features a pool, a playground and a neighborhood lake. Terms of the fixed-rate financing include a 10-year term, a 30-year amortization schedule and 77 percent loan-to-value. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets arranged the financing through Freddie Mac on behalf of Advenir@Pines LLC.

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