The 2014-built gated community, located on 17 acres at 10201 Lee Vista Boulevard, offers modern one-, two-, and three-bedroom floor plans up to 1,337 square feet.
Berkadia, a distinguished leader in the commercial real estate sector, announces that it has arranged a $66.8 million loan to refinance Art Avenue Apartment Homes, a 300-unit, Class A garden-style multifamily apartment community located in the Vista East neighborhood of Orlando, Florida.
Senior Managing Director Mitch Sinberg and Managing Directors Matt Robbins, Scott Wadler and Brad Williamson of Berkadia Boca Raton and Miami secured the financing on behalf of the property ownership.
“Orlando continues to distinguish itself as one of the most resilient multifamily markets in the Southeast,” said Robbins. “Strong population growth, deep employment drivers, and a broadening renter base are fueling steady demand for high-quality assets like Art Avenue. This refinancing positions the sponsor to capitalize on the next leg of the cycle while preserving flexibility in a competitive capital-markets environment.”
Lender Starwood provided the three-year loan with two one-year extension options. The financing structure also includes a $3 million future-funding component to support the sponsor’s capital-expenditure plan and further enhance the property’s ability to capture already-demonstrated rent premiums.
Individual units at Art Avenue Apartment Homes feature distinct open floor plans with interior features including garden-style soaking tubs, wood plank flooring throughout, and in-unit washer and dryer. Select units offer stainless steel appliance packages, custom countertops, large island bars, tile backsplash and spacious patios.
Community amenities include a resort-style saltwater swimming pool; clubhouse with café and coffee bar; state-of the-art fitness center with spin room; new 24-hour package center; dog park and pet spa; access to garages and storage units; and lakeside walking trail.
Situated near major transit routes, including SR-417, SR-528 and the Orlando International Airport, Art Avenue provides convenient access to local business hubs, the University of Central Florida, Lake Nona Medical City, and Orlando’s major theme park resorts.
