Berkadia announced the refinancing of Advenir at the Oaks, a 408-unit garden-style multifamily property located in the Ocoee submarket of Orlando, Florida.
Senior Managing Director Charles J. Foschini, Managing Director Christopher Apone, Vice President-Originations Lourdes Carranza-Alvarez and Associate Director Shannon Wilson of Berkadia Miami secured a $54.68 million loan on behalf of the owner, Advenir at the Oaks, LLC. The deal closed on September 26.
“Our relationship with Freddie Mac is strong,” explained Foschini, “and allowed for a refinance that in an uncertain capital markets provided market-leading rates and terms in addition to a return of equity recognizing Advenir’s outstanding stewardship of the asset.”
Built in two phases between 1989 and 1991 at 3100 and 3200 Old Winter Garden Road, Advenir at the Oaks offers modern one-, two-, and three-bedroom apartment layouts featuring walk-in closets, high ceilings, major appliances including microwaves, individual A/C units, balconies, vaulted ceilings, and washer/dryer hookups in all units. Select units also have wood-inspired flooring and a washer/dryer.
Community amenities at this pet-friendly, controlled-access property include two on-site swimming pools, a clubhouse with 24-hour fitness center and business center, a bark park, two laundry facilities, a tennis/pickleball court and basketball court, a playground, and stand-alone rental office.
Situated in the vibrant Ocoee neighborhood, Advenir at the Oaks is a short commute from Valencia College and the University of Central Florida, and less than two miles from the West Oak Mall. The property offers easy access to West Colonial Drive, the Florida Turnpike, and Spessard L. Holland East-West Expressway. It is conveniently located just 15 minutes from Orlando International Airport and a short 20-minute drive from Downtown Orlando.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
