Embrey Development Co. Secures $58M Multifamily Refinance In Orlando

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.