Robbins Property Associates, a real estate company with offices in Tampa and Boston, secured a $40.5m loan for the purchase of a residential asset in southeast Orlando. Built in 2014, the property features 300 units. Berkadia worked on behalf of the borrower to place a 10-year, floating-rate loan with a competitive LTV ratio and only five years of interest with Freddie Mac.
“Central Florida’s workforce will continue to attract investors that seek stable returns on newly built properties,” said Mitch Sinberg, senior managing director at Berkadia. “The region’s unemployment rate continues declining, with multimillion-dollar construction projects in the pipeline, such as a new Amazon distribution center, a new Drive Shack facility, and a KPMG training facility, all in Lake Nona.”
