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CBRE CAPITAL MARKETS ARRANGES $35.4 MILLION LOAN FOR CORAL SPRINGS APARTMENT COMMUNITY

CBRE CAPITAL MARKETS ARRANGES $35.4 MILLION LOAN FOR CORAL SPRINGS APARTMENT COMMUNITY

Coral Springs, FL – April 6, 2012 – (RealEstateRama) — The strong momentum behind the Florida multihousing market recovery is evident as capital groups continue to aggressively seek quality assets to expand their footprint within the state. In Florida’s Broward County market, CBRE First Vice President Dennis Jiménez arranged a $35.4 million acquisition loan on behalf of Sherwood Forest at Coral Springs LP for the purchase of Sherwood Forest at Coral Springs Apartments from seller, AEW Capital. Terms of the seven-year loan, which closed on March 20, include three years of interest-only financing followed by a 30-year amortization.