Newmark Facilitates Sale of Three Multifamily Properties in South FL for $133M
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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.