Tallahassee, FL
CBRE Arranges Acquisition Financing for 112 Condo Units in Tallahassee
August 24, 2022
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CBRE has arranged acquisition financing for condominium units at 3000 S. Adams St. in Tallahassee, Fla. The borrower purchased 112 of 180 residential condominium units or 62 percent of the property for $8,335,000.
Elizabeth McHugh and Jennifer Easton with CBRE Capital Markets arranged the financing on behalf of the borrower, a private investor.
“In the current environment, many lenders are being conservative. We were able to demonstrate the borrower’s business plan and track record with similar property types to find a lender who was the right fit, and put the client in a strong financial position to realize the asset's full potential,” said Elizabeth McHugh, a vice president with CBRE.
Built in 2006, The Point at Adam's Place includes one-, two- and three-bedroom units. Located just southeast of Florida A&M University in Tallahassee, the 14-building property features a swimming pool and clubhouse.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.