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

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.