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Apartment Developer Lands $54M In Loans For Fla. Properties

Law360, New York (May 18, 2017, 6:23 PM EDT) -- Beachwold Residential has landed $54.3 million in loans for a pair of apartment complexes in Florida after completing renovations, according to a Thursday statement from Holliday Fenoglio Fowler LP, which arranged the financing.

The loans are for the Fountain Lake Apartments in Bradenton and the Sienna Bay Apartments in St. Petersburg, HFF said in a statement. Both have 10-year terms and fixed rates, and were placed with Goldman Sachs. The proceeds were used to retire bridge financing and to return equity to Beachwold, which recently renovated...
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