Berkadia Arranges Refinancing of Vintage Apartment Community in Orlando, Florida Metro Area
Orlando, Florida – April 11, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the refinancing of Advenir at Magnolia, a 272-unit, garden-style multifamily community located in the Fern Park suburb of Orlando, Florida. Senior Managing Director Charles J. Foschini, Managing Director Christopher Apone, Vice President-Originations Lourdes Carranza-Alvarez and Associate Director Shannon Wilson of Berkadia Miami originated a $23.168 million loan on behalf of the sponsor, Advenir@Magnolia LLC. The deal closed on March 31.
Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loan with an extended interest only period and a 60% loan-to-value ratio.
“Our partnership with Freddie Mac continues to create market-leading options for our clients,” said Foschini. “Once a decision was made not to sell the asset, we were able to provide a timely refinance of this property and return equity to the borrower just ahead of a pending loan maturity.”
Advenir at Magnolia is a two-story, garden-style property located on 13 acres at 210 Welcome Way, approximately 10 miles north of Downtown Orlando. It offers a mix of studio, one- and two-bedroom apartments averaging 800 square feet. Amenities include two resort-style pools, grilling stations, a 24/7 fitness center, business center, a lighted tennis court, two basketball courts and three racquetball courts, and laundry facilities
Located in the Fern Park suburb of Seminole County, the property is conveniently located near the Casselbery exchange of US-17/92 and FL-436, offering quick access to retail and employment centers in Maitland, Winter Park, and Altamonte Springs, along with Downtown Orlando, which is a 20-minute drive away. It is also just minutes from the Altamonte Mall and AdventHealth Altamonte Springs.
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