Avison Young Capital Markets Principals Jay Maddox and Peter Sherman, alongside Miami-based Principal George Vail, have successfully arranged a $37.5 million refinancing of Azul Baldwin Park on behalf of Beverly Hills-based Cores Management, Inc., the owner. The Class A luxury 178-unit apartment community is located at 4460 Lower Park Road in Orlando and features one-, two-, and three-bedroom units as well as a resort style pool with sundeck complete with an outdoor kitchen, grilling area, and hotel style cabanas.
Azul Baldwin Park is situated next to Lake Baldwin while being only a few miles away from downtown Orlando; it has maintained 95% occupancy since its opening. Brenda Measamer (Portfolio Manager for Cores Management) expressed her satisfaction in Avison Young’s ability to deliver an outstanding result despite the challenging market conditions: “We are very pleased that Avison Young was able to deliver an outstanding result in response to a critical timing requirement and a challenging market…the team continues to do an excellent job for us.”
