MIAMI, July 30, 2019 – JLL announced today that it has closed the $30.3 million sale of The Gardens at Nova, a 140-unit, value-add multi-housing community in Broward County, a prime suburban growth market in South Florida.

 Commercial Real Estate Investment Firm Has Acquired More Than 2,300 Units in the Last 18 Months

Orlando, Fla. (July 29, 2019) – Berkadia announces it has arranged a $19 million senior loan for the purpose of recapitalizing 174 units at Discovery Palms, a well-located 336-unit fractured condo community (162 units are privately owned) located in Orlando, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Analyst Shannon Wilson of Berkadia’s Miami office arranged financing on behalf of ownership, Discovery Palms Owner, LLC. The property is 98% occupied.

Orlando, Fla. (July 29, 2019) – Berkadia announces it has arranged a $19 million senior loan for the purpose of recapitalizing 174 units at Discovery Palms, a well-located 336-unit fractured condo community (162 units are privately owned) located in Orlando, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Analyst Shannon Wilson of Berkadia’s Miami office arranged financing on behalf of ownership, Discovery Palms Owner, LLC. The property is 98% occupied.

Los Angeles, CA – PCCP, LLC announced today it has provided $268.4 million in financing for the acquisition of two newly-built, Class A high rise apartment towers located in downtown Los Angeles, CA. The two properties, known as The Grace and The Griffin, total 575 units and were delivered in late 2018 by the seller, Holland Partners. With the portfolio nearing 50 percent occupancy, the new ownership’s plan is to lease the remaining units to stabilization, lease the ground floor retail space, and hold the portfolio long-term. The financing was arranged by Mark Williams and Greg Stampley with Eastdil Secured.

ORLANDO, FLA., July 29, 2019 – JLL announces it has closed the sale of Maitland Station, a 293-unit, mid-rise apartment community in Maitland, Florida.

MORRISTOWN, N.J., July 29, 2019 – JLL announces that it has closed the sale of AVA Stamford, a Class A, 18-story, luxury residential tower in downtown Stamford, Connecticut.

Long Beach, Calif. July 25, 2019 – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the approximately $4.65 million sale of a value-add 20-unit apartment property located at 5075 Atlantic Avenue in north Long Beach.

Lakeland, Fla. – Franklin Street has arranged the sale of Sunset Lakes, a fractured condominium community located at 1545 Kennedy Boulevard in Lakeland, Fla., for $14.1 million, or $95,074 per unit. Darron Kattan, Kevin Kelleher, Robert Goldfinger and Zach Ames of Franklin Street’s Tampa office represented both the seller, Florida-based PC Sunset Lakes, LLC, and the Greenville, S.C.-based buyer, SL Lakeland Partners, LLC, who plan to buy additional units and renovate the interior and exterior of the property. Franklin Street’s Tom Kersting also coordinated an equity source for the transaction.  The transaction was for 149 out of the 288 condo units in the community, or slightly over 50 percent.