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CBRE ARRANGES $10 MILLION REFINANCE FOR BLACKSTONE APARTMENT COMMUNITY

CBRE ARRANGES $10 MILLION REFINANCE FOR BLACKSTONE APARTMENT COMMUNITY

Miami, FL – August 31, 2011 – (RealEstateRama) — CBRE arranged $10 million in proceeds for the purpose of refinancing the debt on The Blackstone Apartments in Miami Beach, Florida. Financing terms of the loan include a 7-year fixed rate term, 2-years interest only, and a 70% loan-to-value ratio.