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The Denver company used a $74.4 million loan from Prudential Insurance Co. of America to help fund the purchase of the property.
It funded its purchase with a $24.8 Fannie Mae million loan provided by CBRE Multifamily Capital Inc. The 12-year loan requires only interest payments for the first six years, after which it amortizes.
more than 90 percent leased.
The apartment component consists of 181 units on two acres at 601 NW 82nd Ave. It includes a swimming pool, sauna, fitness center and parking garage. The townhome portion of the property has 16 units at 501 NW 82 Ave.
The buyer assumed a $9.2 million loan against the hotel.
The buyer obtained an $8.7 million loan from BB&T Co. for the deal.
The deal was financed with $10.92 million of debt provided by Florida Community Bank.
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