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  /  Materials   /  ACE, Tower Capital buy Miami Gardens apartments for $33M

ACE, Tower Capital buy Miami Gardens apartments for $33M

Arbor Realty Trust has supplied $43.9 million in debt to multifamily investor Cyclone Group to acquire two rental properties in Gainesville, Fla., Commercial Observer has learned.

The loan helped facilitate Cyclone’s $51 million acquisition of the two-property portfolio including Piccadilly Apartments and Point West Apartments from Hollywood, Fla.-based investor and developer Coastline Management Group, according to Newmark, which advised in the sale and in the acquisition financing.