Berkadia Secures $43.2M in Acquisition Financing for Apartment Community in Metro Orlando
DAVENPORT, FLA. — Berkadia has secured $43.2 million in acquisition financing for Legends at ChampionsGate, a 252-unit multifamily community located outside of Orlando. Mitch Sinberg and Matthew Robbins of Berkadia secured the financing on behalf of Taurus Investment Holdings, which acquired the property for $53.8 million from an undisclosed seller.
The three-year, floating-rate, interest-only loan was underwritten at a 75 percent loan-to-cost ratio and inclues additional funds to finance capital improvements.
Located at 8101 Champions Circle, Legends at ChampionsGate was built in 2002 and includes one-, two- and three-bedroom floor plans. The units include built-in shelving, digital thermostats, hardwood style flooring, walk-in closets and private balconies. Community amenities include a swimming pool, fitness center, playground, business center and yoga room.
Situated 26.5 miles south of downtown Orlando, the community is approximately 7.2 miles from Interstate 4.