American Landmark Secures $50.7M Loan On Hidden Palm Cir Multifamily, Four Corners, FL

The property involved in the transaction is Reunion at 400, a 288-unit apartment community located in Kissimmee, Florida. The asset features luxury one-, two-, and three-bedroom apartments with upscale finishes, as well as screened balconies/solariums in select units. Amenities within the community include a swimming pool, outdoor kitchen with grilling stations, a 24-hour fitness center with a yoga studio, a pet park, clubhouse, package lockers, storage units, electric vehicle charging stations, and detached garages. Reunion at 400 was constructed in 2020 and is situated off SR-429, approximately five miles south of Walt Disney World and 20 miles southwest of downtown Orlando.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $50,700,000.00
• Lender's Representative: Marc Cesare of NewPoint Real Estate Capital
• Borrower: American Landmark
• Loan Details: 10-year fixed-rate Freddie Mac loan with six years of interest-only payments
• Loan Purpose: Refinancing to pay off a bridge loan set to mature in June 2023

NewPoint Real Estate Capital's representative for the loan, Marc Cesare, facilitated the origination of the $50.7 million loan on behalf of American Landmark, the borrower affiliated with the property. The loan, with a term of 10 years and provided by Freddie Mac, was specifically utilized to pay off a bridge loan that was nearing its maturity date in mid-2023. The refinancing transaction for Reunion at 400 introduces a strategic financial move to secure favorable terms and ensure continued operational stability and growth.