BLD Group, GMF Capital Receive $210M Refinancing for Three Multifamily Properties in Florida

by Julia Sanders

ORLANDO, MAITLAND AND FORT MYERS, FLA. — A joint venture between BLD Group and GMF Capital has received a $210 million loan for the refinancing of a three-property multifamily portfolio in Florida totaling 1,139 units. Eastdil Secured arranged the five-year, floating-rate loan through Brookfield Real Estate Financial Partners on behalf of the joint venture.

The three apartments include the 403-unit M2 at Millenia in Orlando, the 300-unit 400 North in Maitland and the 436-unit Venetian in Fort Myers. Lincoln Property Co. manages all three communities, which were 96 percent leased at the time of sale.

M2 at Millenia offers one-, two- and three-bedroom apartments. Located at 4206 Eastgate Drive, the property is situated adjacent to Millenia Mall and close to Florida’s Turnpike and Interstate 4. Community amenities include a private parking garage, clubhouse, business center, entertainment room, fitness center, outdoor dining and a Zen courtyard with a fireside lounge and waterfall.

400 North offers one-, two- and three-bedroom apartments with features such as plank flooring, granite countertops, stainless steel appliances, valet waste removal service and garage parking. Community amenities include a fitness center, elevators, pool, courtyard, outdoor grilling and dining area and onsite management. Located at 400 N Orlando Ave., the apartment property is situated about 7.6 miles from Orlando and is on the same street as restaurants such as Guy Fieri’s Flavortown Kitchen, Jeremiah’s Italian Ice and Luke’s Kitchen and Bar.

Located at 4051 Winkler Ave., Venetian Apartments is located on Colonial Boulevard and Interstate 75. The property offers one-, two- and three-bedroom apartments with unit features including stainless steel appliances, plank flooring and high-speed internet. Community amenities include a clubhouse, two fitness centers, pool and a dog park.

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