Berkadia Arranges $58.56 Million in Acquisition Financing for Apartment Villas in Orlando, FL

Rendering of The Canopy Apartment Villas, 
a 296-unit rental community in Orlando, FL

 

Mitch Sinberg

ORLANDO, FL– Berkadia announces it has arranged the acquisition financing for The Canopy Apartment Villas, a 296-unit rental community located in Orlando, Florida.

Senior Managing Director Mitch Sinberg and Managing Director Matthew Robbins of Berkadia Boca Raton and Managing Director Brad Williamson of Berkadia Miami secured a loan on behalf of the buyer, a joint venture between Taurus Investment Holdings, a global private equity real estate firm, and Aegon Asset Management, the asset management arm of Aegon N.V.

Matthew Robbins

A bank originated the $58.56 million, five-year loan.

 Earlier this year, Taurus and Aegon AM announced a four year, $600 million ESG-centric partnership aimed at acquiring value-add multifamily assets and reducing their energy consumption and carbon outputs.

Through Taurus’s energy-focused subsidiary, RENU Communities, Taurus will aim to transition The Canopy Apartment Villas to a low-carbon, energy efficient multifamily complex.

 

Brad Williamson

“Canopy Apartment Villas is exceptionally located in Orlando, close to major Florida attractions, where there is a strong demand for multifamily communities and continued population and employment growth,” said Robbins.

“Canopy will also provide investors with a unique opportunity to deliver strong returns and benefit the environment.”

 “Taurus and Aegon AM have made a commitment to building a business that delivers returns to our investors, while also positively impacting both society and the environment, so it only makes sense to partner for this substantial decarbonization venture,” said Peter Merrigan, Taurus CEO.

Peter A. Merrigan

“RENU has already proven to be a leader in addressing carbon emissions in existing buildings, and its work across this portfolio will further show our innovative ability to decarbonize properties in a way that is beneficial to all parties.”

 Built in 1981, The Canopy Apartment Villas offer one-, two- and three-bedroom apartments ranging from 826 square feet to 1,337 square feet.

 

  CONTACTS:

 Melinda Sherwood

Kreps PR,

for Berkadia Commercial Mortgage LLC
305.849.0467

msherwood@krepspr.com

 

Marian Moreno

Account Executive 

Kreps PR & Marketing   

C. 786.286.5578 

 

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