Berkadia Secures $58.7M Refinancing for Advenir at San Tropez Apartments in South Florida
PEMBROKE PINES, FLA. — Berkadia has secured the $58.7 million refinancing for Advenir at San Tropez, a 480-unit apartment community in Pembroke Pines. Charles Foschini and Christopher Apone of Berkadia originated the Freddie Mac loan on behalf of the borrower, an entity doing business as Advenir at San Tropez LLC. The fixed-rate, seven-year loan was structured with a partial interest-only payment period and a 70 percent loan-to-value ratio.
Advenir at San Tropez is located at 7840 NW 3rd St. and was built in 1975. The property has one- and two-bedroom units that range from 625 to 850 square feet. Community amenities include laundry facilities, barbecue and picnic areas and three swimming pools.
The apartment community is situated near the Boulevard Heights neighborhood of Pembroke Pines, and adjacent to the property is both the North Perry Airport and Broward College-South Campus. The apartment complex is also 4.8 miles from the Seminole Hard Rock Hotel & Casino and 15 miles from Fort Lauderdale–Hollywood International Airport.