CBRE SECURES $12.7M FOR BRADENTON, FLA., MULTIFAMILY PROPERTY

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BRADENTON, FLA. — CBRE Capital Markets has secured a $12.7 million acquisition loan with structured bridge financing on behalf of Beachwold for the purchase of Fountain Lake, a 201-unit apartment community in Bradenton. Charles Foschini, Christian Lee and Christopher Apone of CBRE arranged the financing through Kennesaw, Ga.-based NXT. Fountain Lake is located at 5620 Fountain Lake Circle and was built in 1984. The multifamily property was recently renovated and amenities include a pool, clubhouse, carports, tennis courts, fitness center, business center and car care center.

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