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6/03/25
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A four-property multifamily portfolio owned by funds managed by Oaktree Capital Management L.P. and TruAmerica Multifamily was refinanced with a new loan for $255.25 mil. The properties contain a combined 1,324 units and are located in Scottsdale, AZ, as well as Tampa and Orlando, FL.
The portfolio includes Luxe Scottsdale, a Class A property in Scottsdale. In Florida, the portfolio includes a fractured condo development, Arbors at Carrollwood in Tampa, plus two Class A assets in Orlando: Audubon Park and Alcove Orlando. These properties were built between 2001 and 2017.
The properties showcase premium features and lifestyle amenities tailored to their respective markets. Arbors at Carrollwood offers resort-style living with spacious one-, two- and three-bedroom layouts averaging 1.1k sf. Audubon Park stands out with its distinctive townhomes featuring direct-access garages and spacious floor plans up to 1.6k sf. Luxe Scottsdale provides modern living in Old Town with upscale finishes and community amenities and Alcove Orlando offers contemporary units, including studios to three-bedrooms with premium features.
All properties feature resort-style pools, fitness centers and modern community spaces designed to enhance resident satisfaction and retention.
Kevin Mackenzie, Annie Rice and Brandon Smith with JLL Capital Markets arranged the five-year, floating-rate loan through a national bank. The new loan includes full-term interest-only payments with flexible prepayment provisions that will allow the sponsors to continue their value-add initiatives across the portfolio.
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