LYNN HAVEN AND TALLAHASSEE, FLA. — CBRE Capital Markets’ Debt & Structured Finance team has arranged three loans totaling $99.7 million for the refinancing for two apartment communities in Lynn Haven and one property in Tallahassee. David Borge of CBRE’s Orlando office secured three 10-year, fixed-rate, non-recourse loans on behalf of the borrower, Tallahassee-based Arbor Properties Inc.
The loans included a Fannie Mae loan for Arbor Trace Apartment Homes, a 336-unit multifamily community in Lynn Haven that was built in 2007; a Fannie Mae loan for Arbor Crossing at Buck Lake, a 208-unit multifamily community in Tallahassee that was built in 2017; and a Freddie Mac loan for the construction loan take-out for Arbor Landing at Mill Bayou, a new 178-unit property in Lynn Haven. The loans had full-term interest-only payments and fixed interest rates in the mid-5s, according to CBRE.