Trimark Properties, a Gainesville, FL, commercial real estate developer and apartment management firm, says it has landed a $22 million refinancing deal for three of its apartment complexes.
The apartments, Solaria, Savion Park, and Tuscana Luxury Apartments, are the newest complexes in the company’s student housing portfolio serving the 50,000 students attending the University of Florida.
Paul Ahmed, representing Walker & Dunlop, coordinated the financing deal between Trimark Properties and JP Morgan. Trimark subsequently received a lower interest rate and 10-year fixed-rate financing.
“Trimark Properties has done an outstanding job of revitalizing the apartment market near the University of Florida by designing a dynamic community of luxury student housing,” Ahmed said.
“The property benefits from a highly-visible location where tenants are excited to live. With the consistent addition of modern, quality features, the properties will continue to see success, making them a prime investment opportunity for lenders.”