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Rick Baer Of American Commercial Realty Secures $43.9M Fannie Mae Loan For G3 Portfolio In Gainesville

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FINANCED
$43,900,000
Kenny Cutler
Elliott Throne
RB

Florida

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MultiFamily
Financed 10/13/2025
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FINANCED

Rick Baer Of American Commercial Realty Secures $43.9M Fannie Mae Loan For G3 Portfolio In Gainesville

720 Southwest 34th Street, 3425 Southwest 2nd Avenue & 328 Southwest 34th Street

See Similar Deals
MultiFamily
Financed 10/13/2025
Kenny Cutler
Elliott Throne
RB
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involves a multifamily property portfolio known as the G3 Portfolio, located at 720 Southwest 34th Street, 3425 Southwest 2nd Avenue, and 328 Southwest 34th Street in Gainesville. This portfolio comprises 330 units and has been recently renovated with upgrades to all units and amenities. The property is currently 97.9% leased and is financed through a $43.9 million loan from Fannie Mae.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $43,900,000
  • Lender: Fannie Mae
  • Landlord: Rick Baer - American Commercial Realty
  • Broker Representation: Elliott Throne & Kenny Cutler - JLL
  • Loan Terms: five-year, fixed-rate
  • Units: 330
  • Market: Gainesville

JLL Capital Markets was responsible for arranging the $43.9 million loan for American Commercial Realty Corp., highlighting their role in facilitating this refinancing transaction. The communities included in the portfolio are Mirabella, Camelot Apartments, and Hammocks at Camelot, which are situated near the University of Florida.

Players

Elliott Throne
JLL
Elliott Throne
18 deals$747M volume
BROKER
Kenny Cutler
JLL
Kenny Cutler
28 deals$1.4B volume
BROKER
Fannie Mae
Fannie Mae
LENDER
RB
Rick Baer
6 deals$175M volume
LANDLORD

Details

FINANCED
IMAGE: Elliott Throne, Rick Baer & Kenny Cutler DATE: 10/13/2025 ADDRESS: 720 Southwest 34th Street, 3425 Southwest 2nd Avenue & 328 Southwest 34th Street MARKET: Gainesville ASSET TYPE: Multifamily ~ UNITS: 330 LENDER: Fannie Mae (@OfficialFannieMae) LANDLORD: Rick Baer - American Commercial Realty BROKERS: Elliott Throne & Kenny Cutler (@Kenny_Cutler) - JLL (@JLL) LOAN AMOUNT: $43,900,000 LOAN TERMS: five-year, fixed-rate NOTE: JLL Capital Markets arranged a $43.9 million Fannie Mae loan for American Commercial Realty Corp. to refinance the 330-unit G3 Portfolio near the University of Florida in Gainesville. The garden-style communities — Mirabella, Camelot Apartments, and Hammocks at Camelot — are 97.9% leased and recently underwent multimillion-dollar renovations upgrading all units and amenities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$43,900,000.00

Monthly NOI$292,666.67
Monthly Debt Service$277,477.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00