Embrey Development Co. Secures $58M Multifamily Refinance In Orlando | 2501 North Orange Blossom Trail | Kyle Schlitt, James Maynard, Matthew (Matt) Williams, Robert (Rob) Wright | MultiFamily | Loan

Summary

Loan

FLORIDA

MultiFamily

Embrey Development Company has secured a $58 million refinance from MetLife Investment Management for its mid-rise multifamily property, The Cannery at the Packing District, located at 2501 North Orange Blossom Trail in Orlando. The property comprises 306 units and is situated in the thriving Orlando market. The loan is a floating-rate refinance loan, providing the company with increased operational flexibility for future success.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $58,000,000
Date: 11/13/2023
Address: 2501 North Orange Blossom Trail
Market: Orlando
Asset Type: Multifamily
Units: 306

The refinance transaction was arranged by Kyle Schlitt of Newmark, who represented Embrey Development Company. James Maynard, Matthew (Matt) Williams, and Robert Wright, also of Newmark, along with Kyle Schlitt, served as brokers for the deal. John McCallion from MetLife Investment Management acted as the lender in the transaction.

Players

All
5

Agents
4
Agencies
1

Kyle Schlitt

Associate Director - Financial Analyst

$221.5M Sold

James Maynard

Assistant Vice President

$233.2M Sold

Matthew (Matt) Williams

Executive Managing Director

$356.7M Sold

Robert (Rob) Wright

Assistant Vice President, Debt & Structured Finance

$1.4M Sold

Newmark

Details

Deal Summary

FINANCED

IMAGE: James Maynard, Robert Wright, John McCallion, Matthew Williams, Walter Embrey & Kyle Schlitt DATE: 11/13/2023 ADDRESS: 2501 North Orange Blossom Trail MARKET: Orlando ASSET TYPE: Multifamily ~ UNITS: 306 LENDER: MetLife Investment Management - John McCallion LANDLORD: Embrey Development Company (@The_Embrey_Way) - Walter Embrey (@papago46) BROKERS: James Maynard, Kyle Schlitt (@SchlittKyle), Matthew (Matt) Williams & Robert Wright - Newmark (@Newmark) LOAN AMOUNT: $58,000,000 LOAN TYPE: Refinance LOAN TERMS: floating-rate NOTE: Embrey Development Company has secured a $58 million refinance from MetLife Investment Management for its mid-rise multifamily property, The Cannery at the Packing District, in Orlando. The financial maneuver enhances operational flexibility and positions the property for future success, according to Kyle Schlitt of Newmark, which arranged the transaction.

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Address2501 North Orange Blossom Trail

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