$20.55M Mortgage for Lake Tivoli Apartments in Kissimmee, FL
David Schofield, senior director, and Robert Rothaug, investment analyst, of NorthMarq’s Orlando Regional office, have arranged first mortgage refinancing of $20.55 million for Lake Tivoli Apartments, a 384-unit market-rate multifamily community located at 851 Lake Tivoli Boulevard in Kissimmee, Florida.
Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this early-rate lock financing for the borrower, Lake Tivoli Apartments, LLC, through its seller-servicer relationship with Freddie Mac.
“We were able to lock the interest rate on this loan earlier in the year for a funding in August when the loan became open for prepayment,” said Schofield.