Lincoln Pointe Apartments. Image via Google Street View
A joint venture between LCOR and Madison International Realty secured a $ 50.5 million refinance package for Lincoln Pointe Apartments, a 285-unit waterfront community in Aventura, Florida. JLL has provided the Freddie Mac Variable Interest Rate Loan, which will be serviced by JLL Real Estate Capital, LLC, a lender of Freddie Mac Optigo.
The new note replaces existing debt on the business, a $ 37 million financing package that MUFG Bank created for the borrower in 2012, according to Miami-Dade County records.
Located on 9 acres at 17900 NE 31st Court., The property comprises four three story buildings completed in 1991. The unit mix includes one and two bedroom apartments ranging in size from 600 to 1,150 square feet. The amenities package includes a resort-style pool, spa, and clubhouse with a billiard room, fitness room and business center.
Located near Biscayne Boulevard, the community is 16 miles northeast of …
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