Plantation apartment complex gets $23.5 million in financing

Holliday Fenoglio Fowler has arranged $23.5 million in financing for the
Plantation Colony Apartments in Plantation, a 256-unit complex. HFF
worked on behalf of the undisclosed borrower in arranging the deal on
the site, which is located at 8210 SW 12th Street near I-595, about 12
miles west of downtown Fort Lauderdale. HFF’s team was led by Paul
Stasaitis, a senior managing director. “The desirability of the
property’s location and the owner’s attention to property investments
contributed greatly to the very long history of high occupancy at the
property,” Stasaitis said. The financing has a term of seven years from
lender Western National Life Insurance. — Alexander Britell