Avison Young Completes $37.5M Refi of Orlando Apartments

Avison Young Capital Markets lead Principals Jay Maddox and Peter Sherman and Miami-based Principal George Vail have arranged the $37.5 million refinancing of Azul Baldwin Park on behalf of the owner, Beverly Hills-based Cores Management, Inc. 

The Class A luxury 178-unit apartment community is located at 4460 Lower Park Road in Orlando. The three-building multi-story complex features one-, two- and three-bedroom units, a resort-style pool and sundeck with outdoor kitchen, grilling area, and hotel-style cabanas. 

Azul Baldwin Park is next to Lake Baldwin and a few miles away from downtown Orlando. The property has consistently performed at 95-percent occupancy. 

“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, time and again, continues to do an excellent job for us,” said Brenda Measamer, Portfolio Manager of Cores Management.